Payroll reversal pay after EOFY
I entered regular staff pay for June, then a particular staff member got back to be in August saying the dates were wrong. I saw I accidentally put May date instead of June for the pay period.
So in August I reversed this June pay slip and entered the correct dates, with same pay hours etc thinking it would just cancel out. However, the net figure is different and will no longer reconcile despite all hours entered the same, and manually edited the PAYG and super figure. I'm guessing because it was paid in August, in the new financial year that it wont be the same.
Nevertheless, how do i reconcile this so the nett will be the same?
Hey there accountant5,
Let's dive in with the workaround on how to fix the payroll dates mix-up. Here's what you can do to fix it:
The payment date of the pay run determines the payroll year. Since you entered the correct dates in August, it falls into the new financial year, which is why the net figure is different and won't reconcile. To resolve this, you'll need to reverse the August pay slip and reprocess it with the original June payment date. Make sure both the pay period and payment date match the original pay run transaction. This should align everything correctly and ensure the net figures reconcile. You can also check this link for more information.
Best regards,
Doreen
