We processed payroll last week, however paid the wrong employee, who has returned the wages that were incorrectly paid, How do I record the funds received back into our account and match it with the reversed payroll transaction? pls help
Hi InsiteWA - thanks for the question!
Just process a negative pay for the overpaid amount. This involves replicating the amounts from the original pay, but change the positives to negatives, and any negatives to positives. Don't forget to change the accrued leave entitlements too. The net pay should then match the original pay, but as a negative amount.
This will reduce that employee's YTD amounts and you can match the deposit in the bank account with the negative pay transaction.
You can then process the pay again for the correct employee.
I hope this helps!
Adrian
Hi Adrian, thank you very much for your reply and solution.
A lil kicker.. :( the employee returned the wages over two payments due to his daily bank transfer limit. Are we able to to still use your solution and still match the bank feed?
Many thanks
Hi InsiteWA ,
If the wage repayment was 2 transactions, you won't be able to match them to the single payroll transaction. Instead, you'll need to hide those bank feed transactions, then manually reconcile the AccountRight transaction.
Adrian
