1 Bank transaction = 2 MYOB transactions : How do I match the bank feeds?

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ScarlettLP11
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1 Bank transaction = 2 MYOB transactions : How do I match the bank feeds?

Company data auditor likes Payroll Liabilities paid through that specific function in the payroll area. But when paying a quarterly BAS, GST and PAYG together in one bank transaction, it proves difficult to match the one bank payment to the 2 MYOB transactions that make up the BAS payment.    Is there a way around this other than hiding the transactions in bank feeds and manually reconciling. 

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ScarlettLP11
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One BAS payment - 2 MYOB transactions - how to match Bank Feeds ?

This is for AccountRight ....

 

Company data auditor likes Payroll Liabilities paid through that specific function in the payroll area. But when paying a quarterly BAS, GST and PAYG together in one bank transaction, it proves difficult to match the one bank payment to the 2 MYOB transactions that make up the BAS payment.    Is there a way around this other than hiding the transactions in bank feeds and manually reconciling. 

Ultimate Partner GDay53
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Re: One BAS payment - 2 MYOB transactions - how to match Bank Feeds ?

@ScarlettLP11 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

As the bank feed need to be an exact amount to match the only way to match multple transactions to a single transaction is to use a clearing account like Undeposited funds.

Make all the multiple transactions paid from the clearing account and the single bank feed transaction entered as a spend money from the bank to the clearing account.

For Payroll this can be auromated just make sure all pays are "paid method" cash where you have the account for cash payments setup as the Payroll Clearing account and set a rule in bank feeds as well.

 

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
First Class Accounts Clayfield
Mobile: 0402 841 627
gday@firstclassaccounts.com
MYOB Certified Consultant
MYOB Diamond Partner

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