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We run two totally separate companies through MYOB, both with different bank accounts.
Only one of these companies has employees.
On the 21 December the boss paid two employees a Christmas bonus of $1,500.00 each.
This was paid out of the company that does not have employees in it.
Hence, I now have the difficult task of working out how to allocate these two $1,500.00 payments in the company that has no employees made on the 21 December.
And then working out how to put two pay runs through for these payments and allowing for PAYG in the correct company, without stuffing up my bank statements.
Any help would be much appreciated.
PS. I hope I have explained this okay.
I’d be inclined to speak with your accountant about how best to handle this in your company files, to get their input as these types of situations can be a bit messy to fix up.
That said one way you could do it would be to record the payroll transactions in the correct file, and then pay the amount into the other company’s bank account. This would correct the company file with the employee’s in it, with all of the correct records.
As this would have the effect of the other company having a withdrawal and a deposit in the bank account, you could use both a Spend Money and then a Receive Money transaction to reflect the outgoing and incoming funds. That said this is probably something best discussed with your accountant