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mel12's avatar
mel12
Contributing User
2 years ago
Solved

Fixing a payroll error in a previous year

Hi, Is it possible to correct a payroll error from a previous year? I've been working back through my bank reconciliations on my main bank account as it has been showing incorrect figures. I have co...
  • Sean_DC's avatar
    Sean_DC
    2 years ago

    Hi mel12 

     

    Thank you for your post.

     

    To correct pays in previous payroll years you will need to undo the employee's finalisation first by going to the STP reporting centre >> Go to the EOFY finalisation tab >> Select the year >> Click on the ellipsis for that employee and choose to Remove finalisation.

     

    Once you've processed the required adjustments/corrections record a $0 pay with the payment date as the same date of EOFY for that previous year to update the YTD amounts in STP. If the MYOB payroll reports and YTD verification report reconcile you can re-do the employee finalisation.

     

     

    Please feel free to post again. I'm happy to assist further.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.

     

Sean_DC's avatar
Sean_DC
MYOB Moderator

Hi mel12 

 

Thank you for your post.

 

To correct pays in previous payroll years you will need to undo the employee's finalisation first by going to the STP reporting centre >> Go to the EOFY finalisation tab >> Select the year >> Click on the ellipsis for that employee and choose to Remove finalisation.

 

Once you've processed the required adjustments/corrections record a $0 pay with the payment date as the same date of EOFY for that previous year to update the YTD amounts in STP. If the MYOB payroll reports and YTD verification report reconcile you can re-do the employee finalisation.

 

 

Please feel free to post again. I'm happy to assist further.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.

 

gavin12345's avatar
gavin12345
Ultimate User
2 years ago

Hi mel12 

 

For a 0.01 reconciliation issue, I strongly advise against using payroll at all!!

 

Do a General Journal or a Spend Money transactions simply to fix the reconciliation issue. Talk to your bookkeeper or accountant about how to do this.

 

Undoing payroll is complex. And while you may be able to un-do, you may not be able to 're-do'. Typically MYOB only allows you to enter payroll in the current payroll year. Your current payroll year is 2023. You may not be able to fix a 2019 payroll this way.

 

Regards

Gavin