Payroll overpayment

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JIA
Contributing Cover User
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Contributing Cover User
Australia
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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.

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CloverQ
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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.

Kind regards,
Clover

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