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IanB2013's avatar
IanB2013
Cover User
2 years ago

unable to reconcile as bank .aba file deducted $0.01 more than calculated payroll amount

I ran payroll spliting payment between two accounts for my employee using MYOB payroll to calculate bank net pay amount as $XXXX.67.  The payment was made electronically expecting $XXXX.67 to be ducted from the account payroll is paid. When I went to reconcile the bank account I found the bank deducted $XXXX.68 from the bank account, $0.01 more than the payroll calculated amount used for the electronic banking in the .ABA file. Consequently I cannot reconcile the deduction in AccountRight tothe bank account as "amounts do not match". There also appears no way to adjust the electronic payment made in MYOB to match the bank deduction taken from the bank account through electronic banking by the .ABA file deduction from the company account when the pay was run.

Has any one encountered this issue? If so how did you manage to reconcile the $0.01 difference between calculated and actual bank account deductions?

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    2 years ago

    Hi IanB2013 

     

    Thanks for your post. There's a couple of ways you can handle this if you wish to write off the 0.01 difference.

     

    1. In the desktop - hide the bank feed by right-clicking on the transaction and selecting Hide transaction. Then go to Reconcile accounts and tick the electronic payment transaction to manually reconcile. Click on Bank Entry (next to Undo Reconciliation), enter 0.01, select the applicable account and enter any other required information.
    2. In the browser - click on the expand arrow for the bank feed, click Match transaction, select the electronic payment transaction, click on Add adjustment, enter the amount and select the account.

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.