Reversing Payroll

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Reversing Payroll

We opened another business in August, under the same company as an existing business.  We created Categories to segment our Financials. I have managed to go through all the payment entries and deposits and allocate them to Category "1", however, I can't go back and allocate the payroll that was done in July to the Category "1". 

 

Do I need to reverse the payrolls and process them again allocating each pay to Category "1"?

 

Also, 2020.3 states that reversing payroll entries are made simplier however, I can't find any notes on this process.

 

Look forward to hearing a reply.

 

 

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MYOB Moderator
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Re: Reversing Payroll

Hi @Barchino 

 

Once recorded, payroll transactions cannot be edited in any way including adding categories to a transaction. As such if you needed to apply a category to a payroll transaction after its been reported you would be looking at reversing and reentering that pay with the relevant category attached.

 

On a side note you may want to discuss with your accountant over whether you can run both businesses in the one file

Regards,
Neil

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Experienced Cover User
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Re: Reversing Payroll

Thanks Neil. The businesses are owned by the same legal entity, so they can be in the same MYOB file.

 

Are there any notes on the new process for payroll in 2020.3 as asked?

MYOB Moderator
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Re: Reversing Payroll

Hi @Barchino 

 

I’m not currently aware of any notes, outside of the release notes, for the changes that have been included in the 2020.3. That said I have passed your comments onto the team who look after the release notes

Regards,
Neil

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