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Shangraham12's avatar
Shangraham12
Contributing User
5 years ago

Payroll clearing account

Hi I am hoping someone can help me. In my payroll clearing account i have quite a few old entries that were entered wrong. They should not have been allocated to the electronic clearing account, the...
  • Komal_S's avatar
    Komal_S
    5 years ago

    Hi Shangraham12 


    In order to clear the balance in that account, we would recommend speaking to your accountant to check if they can do a journal entry to move it to another account before inactivating it.

     

    Feel free to post should you have other queries.

Komal_S's avatar
Komal_S
MYOB Staff
5 years ago

Hi Shangraham12 

 

There are two ways to get rid of unwanted transactions in the Prepare Electronic Payments window - process them or change the linked account for electronic payments:

 

  • Processing them involves ticking the relevant transactions and selecting to create a bank file then never uploading that file to the bank (as it would pay them again). This option may affect the reconciliations and balance of your accounts.
  • Another alternative  is to create a new electronic payment account and set that as a banking account for electronic payments. This account can be created via Accounts>>Accounts list . Once it has been created go to Setup>>Linked Accounts>>Accounts and Banking>>Set that new account to be the Bank Account for Electronic Payments. As there would be no new transactions in that new account, the Prepare Electronic Payments window will be blank. Any new transactions recorded will go into that account and be shown in that Prepare Electronic Payments window ready for processing. This process does not affect anything else.

Please let me know how you go on. 

  • Shangraham12's avatar
    Shangraham12
    Contributing User
    5 years ago

    Hi Komal 

    Thank you so much for your explantion and help.

    I have processed the alternative method.

    That has worked to clear the screen.

    Is there now a way to clear the original account that is showing a negative blaance? I have ticked this account as inactive but I am still seeing a negative balance.  

     

    • Komal_S's avatar
      Komal_S
      MYOB Staff
      5 years ago

      Hi Shangraham12 


      In order to clear the balance in that account, we would recommend speaking to your accountant to check if they can do a journal entry to move it to another account before inactivating it.

       

      Feel free to post should you have other queries.

      • Shangraham12's avatar
        Shangraham12
        Contributing User
        5 years ago

        Thank you so much!

        I will revert to my accountant about this.

        I appreciate your help.

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