Payroll overpayment

Highlighted
Contributing Cover User JIA
7 Posts
Contributing Cover User
Australia
Contributing Cover User

7Posts

3Kudos

0Solutions

Solved: Go to Solution

Payroll overpayment

Hello,

 

We have had an employ resign from our company and his last day of work was the 5th of July.  At the time he was overpaid on leave owing.  The employee agreed and paid back the overpayment to us - now in September.

 

How do I go about fixing the payroll so that he's pay summary at the end of the financial year is correct?  Do I delete the pay transaction and re-enter it with the correct amounts?  And if so, do I do that in July (which will affect my BAS that was lodged in August)?  Or do I simply create a negative pay for the amount paid back?

 

Your help will be much appreciated.

1 REPLY 1
MYOB Moderator CloverQ
7,214 Posts
MYOB Moderator
Australia
MYOB Moderator

7,214Posts

508Kudos

0Solutions

Accepted Solution Solved

Re: Payroll overpayment

Hi @JIA 

 

Assuming the July period has already been reconciled and reported, deleting transactions in that period would not be he best practice. 

 

From the software point of view, to update the account balances, you can reverse the original pay then record the correct amount, or record a negative pay. However, in terms of which option to use, and how to account for the BAS reporting, it would be best to check with your accountant. 

 

I hope this helps.

Cheers,
Clover

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