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February 2021
February 2021
Is there a way to match a payment in banking transactions to a payroll entry that does not equate to the payroll data? That is the payment may be under or over the payroll amount. I can get to the point of matching the payment but am not able to allocate the remaining balance. It is not an option to go back and redo the wages. thanks
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February 2021
February 2021
Hi @sandersonlj
You cannot change the payroll entry to match the bank if they are different. You will need to use a Payroll Clearing Account.
Creat a Clearing Account, as a Type Bank Account. Under Set Up>>Preferences >>Linked Accounts>>Payroll Accounts, link the Bank Account for Cash Payments to the Payroll Clearing Account.
Open the Payroll transaction, and change the Payment Method to Cash, and the record the transaction. This will post the payment to the clearing account. Now in bank feeds, code the actual payment to the Payroll Clearing Account as well.
You will need to make an adjustment to the Payroll Clearing Account to clear out the balance.
February 2021
February 2021
Thanks for the information, but I am still needing help as I can't find where the Set up is for preferences etc....I am pretty new to using MYOB, I can set up the extra bank/payroll account but thats as far as I can get. I am using MYOB essentials. Would really appreciate further input.
February 2021
February 2021
Hi @sandersonlj
Ideally, you would be paying the same amount that is paid to the employee in MYOB Essentials. However, there are processes that can be used if the employee has been over or underpaid.
For underpayments, typically, you want to:
The above process will generate two banking transactions in the bank account to which you can match to the underpayment and the correcting bank transaction (when processed).
Overpayments a little more tricker, the process I would use is:
If the amounts are to be deducted from a future payment you use the same process as above for those pays minus Step 6.
February 2021
February 2021
Thanks so much for your information but this is an old payroll, last financial year actually so I will not be amending, rather just trying to allocate part payment as per payroll with the balance elsewhere.
February 2021
February 2021
Hi @sandersonlj
If deleting the transactions is not an option you would be looking at recording a series of banking transactions to remove the payroll amounts from that account to a holding account and then process transactions back to the bank account in the way it was paid.
I've outlined the process I would use below:
February 2021
February 2021
Thank you for your help, its appreciated.
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Naomi_Roskell
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