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loriwiles's avatar
loriwiles
User
12 days ago

New FY Tax rates - have withheld too much tax

Hello, my bank feed bank transactions for my weekly payroll don't match my pay run (already done STP) due to the new financial year PAYG Witholding tax rates changing and I realised too late. I can't match them/ record them. It's only 2 employees - one is owed $29 and one is owed $15 where too much tax was withheld.  The bank feed is $1,099 but need it to be $1128. The other is $738 but should have been $753. What steps do I follow to fix this and match the pay-runs please? Thank you! 

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  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    12 days ago

    Hi loriwiles,

     

    Thank you for the post. I understand you're experiencing discrepancies between your payroll and bank feed transactions. To resolve this issue, you need to reverse and reprocess the pay to ensure everything matches correctly. Fixing a pay has detailed steps on how to do it.

     

    Regards,

    Sai