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silviah's avatar
10 months ago

incorrectly paid wages in bank but correct in myob

Hello  community

 

I correctly paid wages in Myob but uploaded the incorrect file to the bank (the payroll file from week before) and this resulted in employees being paid the incorrect amount.

 

I worked out the nett difference and immediately paid the underpayments through payroll clearing account and so between the two payments , this should clear those up.

 

However with the overpayments , do i work out the nett overpayment and just deduct from next pay - most are relatively small amounts of about $60 but what payroll category would i put it under as it was an overall payment not an overpayment in hours or category 

There are 2 employees who shoud not have been paid at all - for those 2 do i record a normal pay and report to STP even though they werent entitled to it and then deduct the amount from next pay - those 2 are easier in that i can just replicate the pay from the week before? im confused help!

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  • Hi silviah

     

    Thanks for reaching out. 

     

    Sorry to hear about your difficulties. Generally, in reconciling the accounts we just follow what really happened in real life and record it to the application. If you are using bank feed for these paid wages, there is a high chance that this won't be matched under the bank feeds window. I would suggest processing the incorrect pay run and then reversing both the pay run and the bank transaction right after. This will make sure that the transactions in the application will reflect the transactions in the bank feeds. If this is not a good option for you, I would suggest consulting a financial advisor on the best way to compensate for the difference. 

     

    Let us know if you require any further assistance. We're happy to help. 

     

    Cheers, 
    Genreve