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Enough's avatar
Enough
Experienced User
4 months ago

Payroll reversal not reconciling

We paid PAYG for 2 under 18yr employees over a period of several weeks when their PAYG should have been adjusted to $0. 

 

I have now reversed the pays for those 2 employees and re-entered them with PAYG adjusted to $0 and reimbursed both employees as one payment via internet banking. 

 

I made a BAS adjustment with the ATO for March and entered that adjustment in the PAYG journal entry and the accounts now balance after the April PAYG was lodged and paid.

 

I unreconciled the bank statements for March and April and re-reconciled with the reversed and re-entered pays for the 2 employees.

 

For arguments sake we owed the employees a total of $50:

employee A $25 in March

employee B $10 in March and $15 in April

A single payment of $50 was made in April and shows up on the bank feeds.

 

The $50 backpay payment is listed as unallocated on the dashboard.  I can't allocate it to the pay reversals because they aren't listed.  How do I allocate the $50 backpay payment on the dashboard when the bank statements are already reconciled with the pay reversals/re-enters already included?

 

 

7 Replies

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  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    3 months ago

    Hi Enough

     

    I totally get why you need to match the bank feed transactions with the payroll adjustments. Here’s how I see it: start with the payroll adjustment, then move on to the bank feeds, and finally, go to the reconcile accounts screen.

     

    I suggest undoing your reconciliation and unmarking all transactions from the reconcile window. This way, those transactions will show up as possible matches to your bank feed transactions. Once you do that, you can go ahead and reconcile your accounts.

     

    Also, feel free to reach out to our virtual assistant, MOCA, for quick support at myob.com/support. If MOCA can’t help, you’ll be directed to our live chat team for more assistance.

     

    Thanks,
    Genreve

     

    • bob6969's avatar
      bob6969
      3 months ago

      Don't know were to complain , so I'll just shoot from the hip.

      I just reported MYOB to the ACCC for changing the layout without my consent. I entered into a agreement with MYOB , paid my fee , and they have no right to change contract mid month without asking me( the paid user ).

    • Enough's avatar
      Enough
      Experienced User
      3 months ago

      Hi Genreve,

      I have unreconciled the bank statements but still none of the unselected transactions are showing up in the bank transactions list for allocation.

  • Kristie's avatar
    Kristie
    Contributing Cover User
    21 days ago

    Did this get resolved for you? If so how did you rectify? Im having similar MYOB issue with a payroll reversal not reconciling in the bank and getting no answers from MYOB

    • Enough's avatar
      Enough
      Experienced User
      20 days ago

      Hi Kristie,

      I did resolve the issue.  I had a few suggestions from MYOB that were not helpful.  I have found emailing your issue to support-request@myob.com has been the most helpful on a couple of occasions - as long as you are not in a hurry.  I got this email response and I can't remember exactly but I think this is the option that worked:

      To address and resolve the matter, please follow the outlined steps below:

      1. Create a Contra Clearing Bank Type Account:
        • Navigate to Accounting > Chart of Accounts > Create Account.
        • Select "Bank" as the account type.
        • Enter a unique account number that has not been previously used.
        • Name the account "Contra Account."
      2. Record separate Spend Money transactions transferring from your Checking account to the Contra account.
      3. Match these transactions to your bank feeds.

      Lastly, record a Receive Money transaction from your Checking account to the Contra account. This step will effectively reconcile the payroll transaction in your bank reconciliation.

      • Kristie's avatar
        Kristie
        Contributing Cover User
        20 days ago

        Thank you so much! I setup the contra account and did a spend money from the chq account to the contra which fixes the bank rec problem in the chq account. howeve now the contra account has a balance of (EG $1000). Does this just sit there? The second part of receive money seemed to double up the transfer? 

        It still doesnt make sense when payroll reporting is correct so I dont want to change anything there.. Should I just leave the contra account with a balance ?