reconciling payroll accounts

Hi payroll314 

 

Thanks for your post. The Bank Feeds window is a tool that makes reconciliation easier by matching the bank transactions with the AccountRight transactions. As such, only AccountRight accounts with linked bank accounts will appear in the Bank Feeds window and reconciliations still need to be completed in the Reconcile accounts window.

 

When it comes to reconciling AccountRight accounts, such as the payroll liability accounts, this is done in the Reconcile Accounts window and these accounts are reconciled back to zero. Select the account in the Account field and type 0.00 into the Closing Statement Balance field. For the Bank Statement date enter the date the liability payment was made. Tick all the pay transactions for the period you're reconciling and the payment transaction. The Out of balance amount should be zero.

 

In this example I'm reconciling the PAYG Withholdings payable account for 1/07/2019 to 30/09/2019 quarter. The liability was paid on the 31/10/2019. As the October pay transactions are not included in that payment they are left unticked.

 

 

This is general advice on how to reconcile those accounts in AccountRight, if you have trouble reconciling your accounts I would recommend speaking to your accountant.

 

Please let me know if you need further help.

 

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