Payroll Net Pay Account Trace
Hello, I have a client who does payroll in MYOB Essentials. The gross pay is registered in the Wages expense account. Hardly any of the Net pay is in the Electronic/Payroll Clearing Account. ...
Forum Discussion
Hi AN45,
Figuring out which account to link for employees' net pay can be a bit tricky and might need some specific financial advice. It's best to check with your accountant for personalised guidance on managing your payroll account. But here's a quick tip: make sure your managed linked accounts have the default wages expense category and the default tax/deductions payable category set up correctly. If you've set the employee payment method to electronic and the bank account for electronic payments is set to the 'Electronic Clearing Account', that might be why the net pay is showing up there.
Cheers,
Princess
