Payroll withdrawn in advance of weekly payroll processing
Wages were withdrawn by senior staff from the bank account prior to the payroll for that week being processed, so there is a payroll payment in the bank feed that is unmatched. The following week the payroll was processed and paid as usual, before I was advised that this withdrawal had been made. How do I deal with the unmatched payroll payment, and is it possible to backdate payroll payment for the next payroll period?
I have work with very straight forward wages via timesheets / standard weekly pay, and I've not come across wages being withdrawn in advance or having to match the bank feeds.
Please let me know what I need to do! Thank you
Hi MYOBNewbie19,
Thank you for your post and I apologize for the delay in response.
Currently, bank feed transactions can be matched to ledger transactions in MYOB, even if the dates differ, if the values are identical. This can be done by manually matching each transaction. You can do this by clicking 'find' and filtering the transaction information, like the method shown in this screenshot.
However, it's advisable to record transactions as they occur. For instance, if wages were withdrawn on a specific date, it's best to record the withdrawal on that date and log it against a new account. This new account should represent where the amount was temporarily moved to before the payroll was processed.
Please let us know if you need further assistance with this process.
If my response has answered your inquiry, please click "Accept as Solution" to assist other users find this information.
Thanks,
Genreve
