Wrong Account Allocations
Hi I had created a deduction on an employee for the payment of a car loan. The car loan recorded under the category 'Business Loan 1'. The deduction was linked to the other payroll liabilities ac...
Forum Discussion
Thanks for responding so quickly Doreen!
I tried reversing one pay and re-processing. The issue I am facing now is that when the deduction is allocated to the business loan, processing the pay increases the amount of the loan by the deduction. Then when I allocate the bank transaction to the business loan it reduced by the same amount, effectively returning it to the same value. That won't reduce the loan liability over time but rather increase and decrease each pay/bank transaction cycle.
Should I be configuring the deduction linked payable account differently?
Hi omcpay
This would be a problematic scenario to fix in an open forum. I suggest you engage with a MYOB Partner to review and fix it in a file. You will want it correct, mainly because EOPY is coming soon.
I am MYOB Partner. My details are in my profile. If you want help, please reach out.
