Bank Reconciliation out of balance

Question

Good morningI need some help please. I am trying to reconcile our bank account for BAS but I was only able to reconcile up to 20 March.&nbsp; I have a problem with the transactions on the 21stOur cheque account balance on that day was $-30,682.94&nbsp;I am out of balance with the exact amount of the wages I paid that day: $13,151.60 – why is that?Also, I never made a separate payment of $937.92 to "Debra" (using only a name for privacy)&nbsp; – her wage was included in the total wages amount paid, but it appears as a separate entry on my MYOB bank statement as well.&nbsp; When I click on the arrow there, is comes up with her pay slip which I apparently can’t delete but have to reverse because of payroll reporting (which I have never done before).&nbsp; I have no idea why this has happened.Some pointers would be greatly appreciated.&nbsp;Attaching a screen shot of the bank statement and payroll summary.&nbsp;&nbsp;

princess_r · Answer

Hi Mathilda,&nbsp;Thank you for your post.&nbsp;Regarding the wages paid on the 21st, it seems like the total amount of $13,151.60 isn't reflected correctly in your bank account balance. We'll need to investigate why this discrepancy exists. It's possible that there might be missing or duplicate transactions causing the imbalance. The first thing you should check is the linked account within the transactions. You can recap the transactions to see the linked account.&nbsp;As for the separate payment of $937.92 to "Debra," it is indeed puzzling, especially if her wage was already included in the total wage amount paid. It's essential to figure out why this entry appears separately on your MYOB bank statement. Reversing the transaction as per payroll reporting requirements is necessary. However, you need to ensure that this will not affect your payroll reports.&nbsp;For more information, please check Fixing out-of-balance bank reconciliations.&nbsp;Feel free to respond if you need further assistance.&nbsp;Cheers,Princess

mathilda · Answer

Hi&nbsp;Princess_R&nbsp;Thanks for your reply.&nbsp; Okay I have no idea how to do the recapping from what I've read on your link as it gives examples on sales and purchases.&nbsp; I need more time to investigate the "linked account" issue.&nbsp;Secondly, I've looked at my payroll reporting centre and that single transaction for "Debra" was not reported and accepted (screen shot attached) - only the combined payroll for the day.&nbsp; Does that mean I can delete the single pay or must it still be reversed?

shella_a · Answer

Hi Mathilda,
&nbsp;
Thanks for your response. It's key to really understanding the linked account issue, so take the time you need for your research. Checking the setup of the payroll linked accounts in Manage linked accounts is a smart move. Also, I see the screenshot of Debra's unreported single transaction. If it's not reported, you're free to delete the transactions. Just make sure this won't affect your payroll reports.
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Feel free to post again anytime you require further assistance.
If my response has answered your inquiry, please click "Accept as Solution" to help other users find this.
&nbsp;
&nbsp;
Kind regards,
Shella

mathilda · Answer

Hi&nbsp;Shella_A&nbsp;&nbsp;I have just tried to delete that entry of Debra's separate pay but it comes up with a message that says that the pay has been reported so it needs to be reversed.&nbsp; I have not reported this, it does not even show up on the payroll reporting centre records.&nbsp; I don't understand it.&nbsp;I'm still going to need help with the linked accounts to get rid of that payroll total that I'm out of balance with but I'm going to try and sort out the Debra pay first.

shella_a · Answer

Hi Mathilda,
&nbsp;
You might want to check the security settings that determine if your transactions can be deleted or reversed. You can find this under Setup &gt; Preferences &gt; Security &gt; Transactions CAN'T be Changed, They Must Be Reversed. If the pay run isn't reported, you shouldn't be seeing an error message.
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For more details, you can refer to the article, Fixing a Pay.
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Regarding the linked accounts balance, the steps can differ based on your situation. It could be helpful to revisit the previous articles shared by my colleague.
&nbsp;
Feel free to post again anytime you require further assistance.&nbsp;
If my response has answered your inquiry, please click "Accept as Solution" to help other users find this.
&nbsp;
&nbsp;
Kind regards,
Shella

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