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ChristineBu's avatar
ChristineBu
4 years ago
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Clearing Electronic Payments

Hi All,

 

What is the simplest way to clear unprocessed transactions sitting in the Electronic Clearing Account?  Payroll has been processed correctly but paid manually through internet banking and using Spend Money.  The wages go back to 2019.  All accounts are reconciled bar the amount sitting in the Electronic Clearing Account which has actually already  been paid.

 

I'm using MYOB AccountRight V.2021.4

 

Thanks

 

  • Helen-Z's avatar
    Helen-Z
    6 years ago

    Hello amandaaquilina 

     

    Thanks for your question - its definitely something the support team get asked a fair bit!

     

    When Simpler BAS took effect in 2017, all businesses with a GST turnover of less than $10 million were automatically moved to Simpler BAS by the ATO. Most likely the ATO has switched your client to Simpler BAS.

     

    There are two solutions for you with this issue, depending on which you prefer:

    1. change the question regarding Simpler BAS from N to Y

    2. call the ATO and ask them if they can switch your client back to not using the Simpler BAS option.

     

    Either option should work!

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  • Steven_M's avatar
    Steven_M
    Former Staff
    4 years ago
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    Hi ChristineBu 


    The simplest way would be the following:

    1. Navigate to Accounts>>Accounts Lists>>New.
    2. Give the account a number, name and set the Account Type to be Bank.
    3. Once that account has been created, go to Setup>>Linked Accounts>>Accounts & Banking.
    4. Set the Bank Account for Electronic Payments to be that newly created account.
    5. Select OK.

    This process will work as the system looks for all transactions that are paid electronically that have yet to be processed and showcase them in the Prepare Electronic Payments window. As there are no transactions in that newly created account the Prepare Electronic Payments window is blank/shows no transactions.

     

    Note: There will still be a balance in that old electronic account, you may want to speak to your accounting advisor about recording a journal to clear the balance of that account.

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Hi All,

 

What is the simplest way to clear unprocessed transactions sitting in the Electronic Clearing Account?  Payroll has been processed correctly but paid manually through internet banking and using Spend Money.  The wages go back to 2019.  All accounts are reconciled bar the amount sitting in the Electronic Clearing Account which has actually already  been paid.

 

I'm using MYOB AccountRight V.2021.4

 

Thanks

 

","body@stringLength":"509","rawBody":"

Hi All,

 

What is the simplest way to clear unprocessed transactions sitting in the Electronic Clearing Account?  Payroll has been processed correctly but paid manually through internet banking and using Spend Money.  The wages go back to 2019.  All accounts are reconciled bar the amount sitting in the Electronic Clearing Account which has actually already  been paid.

 

I'm using MYOB AccountRight V.2021.4

 

Thanks

 

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Clearing Electronic Payments","moderationData":{"__ref":"ModerationData:moderation_data:715524"},"body":"

Hi ChristineBu 

\n


The simplest way would be the following:

\n
    \n
  1. Navigate to Accounts>>Accounts Lists>>New.
    2. \n
  2. Give the account a number, name and set the Account Type to be Bank.
    3. \n
  3. Once that account has been created, go to Setup>>Linked Accounts>>Accounts & Banking.
    4. \n
  4. Set the Bank Account for Electronic Payments to be that newly created account.
    5. \n
  5. Select OK.
    6. \n
\n

This process will work as the system looks for all transactions that are paid electronically that have yet to be processed and showcase them in the Prepare Electronic Payments window. As there are no transactions in that newly created account the Prepare Electronic Payments window is blank/shows no transactions.

\n

 

\n

Note: There will still be a balance in that old electronic account, you may want to speak to your accounting advisor about recording a journal to clear the balance of that account.

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Hi  

\n


The simplest way would be the following:

\n
    \n
  1. Navigate to Accounts>>Accounts Lists>>New.
    2. \n
  2. Give the account a number, name and set the Account Type to be Bank.
    3. \n
  3. Once that account has been created, go to Setup>>Linked Accounts>>Accounts & Banking.
    4. \n
  4. Set the Bank Account for Electronic Payments to be that newly created account.
    5. \n
  5. Select OK.
    6. \n
\n

This process will work as the system looks for all transactions that are paid electronically that have yet to be processed and showcase them in the Prepare Electronic Payments window. As there are no transactions in that newly created account the Prepare Electronic Payments window is blank/shows no transactions.

\n

 

\n

Note: There will still be a balance in that old electronic account, you may want to speak to your accounting advisor about recording a journal to clear the balance of that account.

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Apologies for the late reply.  Many thanks for your help.  It worked!

 

Kind Regards


Christine

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Apologies for the late reply.  Many thanks for your help.  It worked!

 

Kind Regards


Christine

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