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incorrect pay entry
Hi, I have recorded an incorrect pay for an employee. How do I rectify the error?
Forum Discussion
Hi, I entered in the reversal manually but the original amount I incorrectly paid is showing up on the bank reconciliation in MYOB. How do I get rid of that?
In the Bank Renconciliation you should have a withdraw (unticked) for the original wrong transaction and another deposit (unticked) for the reversal you entered. These 2 transactions should knock one another out and so you can then tick both as reconciled.
The newly created correct wage transaction will auto tick as reconciled when you approve it in the BankFeeds screen.
Can I also clarify - in the BankFeed you should have a withdrawal amount waiting for the Corrected Wage transaction? Or was the net amount of the original wage transaction correct despite the errors in it (ie only some components that were in error bu thte net remained the same).
If this was the case then its likely that you have already matched the BankFeed entry to the wage transaction that had errors. This is OK the only diference here is that the reonciliation screen will have an unticked deposit (the reversal that you did) and an unticked withdraw (for the new corrected wage transaction) that will knock each other out (tick them both).
