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Allocating or matching wages

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Contributing User Garyhundal
8 Posts
Contributing User
Australia
Garyhundal
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Allocating or matching wages

Hi  Everyone, 

my company ususally pay their employee through electronic tracnsaction, usualy i upload the bank file and wages are paid as one click to everyone, but recently my boss paid them mannually through their account numbers (3 employees together and 2 got separate for example, my boss did one entry of $1500 that paid 3 people and 2 separate entries of $500 each, 

as obvious these entries would not match and i allocated them in account WAGES AND SALARIES but now i found they becomes a duplicate entries in books and i do not know how to rectify it.

can anybody guide me how i can deal with it and do correct allocation in future if something happen like that.

4 REPLIES
MYOB Moderator Steven_M
24,129 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

24129Posts

2721Kudos

3474Solutions

Re: Allocating or matching wages

Hi @Garyhundal

 

When a bank transaction does come and it is for a payroll transaction, in the most cases you shouldn't allocate that to the Wages and Salaries account. If you do allocate it you are likely overstating your wages. For example, you have the payroll transaction and you have your bank transaction to the Wages account effectively doubling your payroll expense.  You should be selecting to Match the bank transaction to the payroll transactions.

 

So, in your case, you would want to go to match that transaction to the payroll transactions you have recorded. This can be done by selecting the relevant bank transaction, select the Match Transaction option and tick the relevant transactions (you would need to change the Filter by to be All transactions).  For example, matching the $1500 to those three employee's pays and then matching the $500 to the relevant employee's pay.

If you have already allocated the transaction select the transaction in the Bank Transactions list and select the cross on the right-hand side of the allocate or match column. This will allow that bank transaction able to be matched to the relevant payroll transactions.


Kind Regards,
Steven
MYOB Client Support
Contributing User Garyhundal
8 Posts
Contributing User
Australia
Garyhundal
Contributing User

8Posts

2Kudos

0Solutions

Re: Allocating or matching wages

Hi Steven, 

thankyouy for your comment, i am usisng accountright and there is no option like match option, there are option find on left side and in right side is new option (that is a drop down option which have 5 category, spend money, pay bill, transfer money and transaction rule, bill rule.

the other question is, i have noted the transaction appear in find transaction includes payg tax, i just wonder how it will match with mannual entry.

(for example if pay is $500 it appear as $550 ($500 pay + Payg TAX)

 

 

MYOB Moderator Steven_M
24,129 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

24129Posts

2721Kudos

3474Solutions

Accepted Solution Solved Solution

Re: Allocating or matching wages

Hi @Garyhundal

 

 

For AccountRight's bank feeds work on the principle that you match one bank transaction to one AccountRight transaction. 


In your case, as you have paid those transactions in multiple payments, you would need to use the below process:

  1. Go to Banking>>Prepare Electronic Payments>>Tick the relevant payments* and select Bank file. This will generate the relevant transaction to the bank account
  2. Go to Banking>>Bank Feeds>>Select to Match the relevant bank transaction with that Prepare Electronic Payment transaction.
  3. Complete the Steps for each individual bank transaction i.e. record the $1500 electronic payment, the $500 and then the $500 for the other.

*If the transactions are not the listed in the Prepare Electronic Payments window and have been paid electronically you would be looking at deleting the existing electronic payment (Open the Prepare Electronic Payments transaction and selecting Edit>>Delete Electronic Payment). This will place them back into the Prepare Electronic Payments window for processing.


Kind Regards,
Steven
MYOB Client Support
Contributing User Garyhundal
8 Posts
Contributing User
Australia
Garyhundal
Contributing User

8Posts

2Kudos

0Solutions

Re: Allocating or matching wages

Thanks a Lot Steven, 

 

This is solution i was looking for.

 

 

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