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HayleyR's avatar
HayleyR
Experienced Cover User
21 hours ago

Matching wages in bank transactions

I have one employee who gets paid the same amount each week so I have an automatic transfer set up with my bank account.

 

I didn't change it for the first two payruns of this financial year, so I missed adjusting the transfer out of the bank to the new net amount.

 

When I realised what I've done, I did another transfer for the difference so my employee has been paid the correct amount.

 

The problem I'm having is when I go to my bank feeds I can't match this to the payrun as I won't let me allocate two payments to equal the one amount - I hope that makes sense!

 

I don't want to reverse the pay run as that is not the incorrect part, I just want to be able to allocate two bank transaction to the pay run amount.

 

Any ideas how to do this? It's stopping me from being able to reconcile the bank account.

1 Reply

  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    18 hours ago

    Hi Hayleyr,

     

    Thanks for explaining the situation. I can see why this is confusing when one employee’s pay has been split between two bank accounts. At the moment, MYOB can only match one bank transaction to one payroll transaction, so the two bank withdrawals can’t both be matched directly to the single pay. If the pay has already been processed, leave the payroll entry as it is and avoid allocating the bank transactions directly to Wages, as this can duplicate the wage expense. Instead:

     

    • Create or use a Payroll Clearing account. A temporary account used to balance split payments.
    • Go to Banking > Bank transactions.
    • Select Allocate rather than Match for each wage payment and allocate both to the Payroll Clearing account.
    • Once both payments are allocated, clear the remaining balance in the Payroll Clearing account so it returns to $0.

     

    This keeps the original payroll entry in place while allowing both bank payments to be reconciled. You can find more information here: Matching bank transactions. 

     

    Regards,

    Sai

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