Electronic Clearing Acc.

Question

Hi all....&nbsp; &nbsp;I've made a new-user mistake.We pay the employees by way of direct transfer from the acc.&nbsp;Initially I had the Payment Method for each employee set at Electronic Payment.&nbsp; &nbsp;I didn't realise that, due to the way we pay them, it needed to be set on CASH.&nbsp; So I've ended up with a negative balance in the clearing acc.Due to the wages already having been paid from the bank acc, &amp; now a negative value in the Clearing Acc, MYOB is effectively recording a double payment.&nbsp;I can't work out how to remove the incorrectly recorded value in the clearing acc.&nbsp; &nbsp; Can anyone help.&nbsp;Thanks.

genreve_s · Answer

Hi Bryan_M,
&nbsp;
Unintentionally setting employees to electronic payment instead of cash/cheque isn't an uncommon concern. Luckily, it's easy to fix by creating electronic payments to the bank account. You can create multiple electronic payments to the bank account you used for the payments, making sure the dates and amounts match the bank transactions. This effectively moves the debits from the electronic clearing account to the bank account. As long as everything matches, the transactions will automatically reconcile with the bank transactions without any issues. If you need a guide in the process, you can read through this link.
&nbsp;
Regards,Genreve

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