banking transfers between 2 company abns in 2 myob accounts

[Pam2022]

senario:

Wrong amount paid to employee from bank with ABN1 

Employee returned back to wrong bank with ABN2

I transferred to correct bank from ABN1 to ABN2

How do I enter this in myob.

I have too many entries between the 2 businesses & cannot balance in ABN1 account.

I have attached both companies bank register screen so someone can see what is the wrong entry so I can fix before month end. 

Here's hoping someone can help.

[SamaraM · Accepted solution]

Hi @Pam2022 

Welcome to the Community Forum. If the employee has paid back an overpayment, we recommend processing a separate pay for the adjustment as described in this Help Article: Fixing a payroll overpayment or underpayment, so you can match the payment by the employee to the overpayment in your bank reconciliation.

As this has been done to a different bank account / ABN, then you might be looking at Recording a journal entry. If you are unsure, we recommend that you consult an accountant or the ATO on the best way to record these transactions.

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