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KNIGHTH's avatar
KNIGHTH
Member
1 year ago
Solved

Overpaid Employee

We have accidently overpaid an employee in a pay run from the beginning of January. The employee has now repaid the net funds they received on 10th of February. As there have been further pay runs si...
  • Genreve_S's avatar
    Genreve_S
    1 year ago

    Hi KNIGHTH,  

     

    Generally, employee overpayments are adjusted in the next pay period. However, since the employee has returned the overpaid amount, the situation becomes a bit more complex. I recommend seeking advice from an accountant as this may require a general journal entry to correct.

     

    Regards,
    Genreve

Genreve_S's avatar
Genreve_S
MYOB Moderator
1 year ago

Hi KNIGHTH,  

 

Generally, employee overpayments are adjusted in the next pay period. However, since the employee has returned the overpaid amount, the situation becomes a bit more complex. I recommend seeking advice from an accountant as this may require a general journal entry to correct.

 

Regards,
Genreve

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