Cash Payment for wages

This thread is now closed to new comments.
Some of the links and information provided in this thread may no longer be available or relevant.
If you have a question please start a new post.
Ravinder
Experienced User
39 Posts
Experienced User
Experienced User

39Posts

8Kudos

1Solutions

Solved: Go to Solution

Cash Payment for wages

Hi 

 

Please guide how to process payroll and to do general entry of wages paid in cash for casual employee. Which account needs to select in Spend Money window? I have to pay $200 fornightly.

OR  

Can I use Petty Cash account to make payment to casual employee, if yes, how to do general entry for that?

 

Thanks for your help in advance.

 

Kind Regards

Ravinder

3 REPLIES 3
Tracey_H
12,172 Posts
Former Staff
Former Staff

12,172Posts

0Kudos

1,836Solutions

Accepted Solution Solved

Re: Cash Payment for wages

Hi @Ravinder 

 

Thanks for your post. All pays do need to be processed through Process Payroll, as such, you would never record a Spend Money transaction as this creates a duplication of the actual payment. 

 

The first thing I would recommend checking is the Payroll Linked Accounts. You can do this in Setup>>Linked Accounts>>Payroll Accounts. Check that the linked account for Cash Payments is the bank account. 

 

llink.PNG

 

If you are withdrawing the cash from the bank, when processing the pay change the Payment Method to Cash. This will also change the Pay from Account to the bank account as per the linked account above.

 

cash.PNG

 

A withdrawal will be recorded in the bank account to match with your bank feeds, so you don't need to do anything else.

 

If you are taking the money from Petty Cash, process the pay the same, ie change the Payment Method to Cash. Then you'll need to record a Transfer Money transaction to transfer the payment from the bank account to the petty cash account. To do this:

  • go to Accounts
  • open Transfer Money
  • Transfer Money from: Petty cash account
  • Transfer Money To: bank account

This will record a withdrawal in the Petty Cash account to match the actual withdrawal. It will also record a deposit in the bank account which you will match with the withdrawal from the pay transaction, effectively clearing each other out.

 

Please let me know if you need further help.

 

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

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Ravinder
Experienced User
39 Posts
Experienced User
Experienced User

39Posts

8Kudos

1Solutions

Re: Cash Payment for wages

Hi Tracey

Thanks for explaining in details, appreciate.

 

Kind Regards

Ravinder

Tracey_H
12,172 Posts
Former Staff
Former Staff

12,172Posts

0Kudos

1,836Solutions

Re: Cash Payment for wages

You're very welcome @Ravinder 

 

Please don't hesitate to post again if you need help in the future.

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post