Forum Discussion

RumseyJ's avatar
RumseyJ
Member
1 year ago

PAYG query

Afternoon, HR did a payroll which didn't include PAYG in error.  We asked for the overpayment of PAYG $ to be paid back from employee, which they did.  Does anyone know where this is then allocated ...
Overpaid employee
overpayment
Genreve_S's avatar
Genreve_S
MYOB Moderator
1 year ago

Hi RumseyJ,

 

The best way to handle an overpayment for an employee is to make adjustments in the next pay cycle. Another option is to create a one-off pay run to account for the corrections. You can read through this link to learn more about the process.

 

Regards,
Genreve

RumseyJ's avatar
RumseyJ
Member
1 year ago

Thank you for taking the time to respond to my query Genreve_S .  Appreciate it.

Unfortunately I have taken on this role from someone else and it was back at the end of last financial year and only seeing the discrepancy now so no way of making a quick adjustment in the next pay cycle.  

As it goes over financial years (mistake made in 23,  over payment back from employee made in 24) could a general journal around payroll fix this perhaps so the reconciliation is correct as at 30 June.

  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    1 year ago

    Hi RumseyJ,

    Given that the payroll discrepancy spans across financial years, a general journal entry can indeed help correct the reconciliation. You can create a General Journal Entry, which will help you adjust the accounts to reflect the correct PAYG withholding amounts.

    Regards,
    Earl

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