When an employee has two bank accounts.
When an employee has two bank account the new version is not allowing me to allocate the bank accounts to coincide with that pay period
Forum Discussion
Hi limtr
Thanks for your post. The Help Article, Split a pay between accounts, has detailed instructions on how to set up and process pays split between bank accounts.
For pays that have already been processed and paid, it's not possible to match two bank feed transactions with one pay transaction. You would need to reverse and reprocess the pay using the method in that Help Article. The other option is to reverse the pay and reprocess as two pay runs so the net amounts match the amounts of each bank feed transaction.
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
We have an employee who has two bank accounts - 1 is a fixed amount and the balance varies.
To manage this we made the fixed amount a deduction.
However, the net pay cannot be matched to the bank feed. eg. The net pay on the payslip shows net - deduction but the options for matching the bank feed includes the deduction.
This is obviously a programming error.
Hi KayeC
To split an employee's pay between two accounts, in the employee card>>Payment details select Electronic as the Payment method, select the number of bank accounts and enter the account details. For a fixed amount into one account change the Value to Dollars in Bank account 1 and enter the fixed amount. The balance of the net amount will be automatically paid into Bank account 2:
Process the pay run as normal. Then:
- go to Banking>>Prepare electronic payments
- tick the pay transaction
- click on Download bank file
- upload the bank file in your internet banking and the bank will split the amount between the two bank accounts
- in Bank transactions match the electronic payment transaction to the bank feed transaction
Deductions are amounts withheld from employee pays and paid to a third party, so the software is correctly reducing the net amount by the deduction. If you used this method and manually transferred the wages into two bank accounts in Bank transactions you would have:
- bank feed transaction for the fixed amount - you would need to record a Spend money transaction or allocate to the linked payable account
- bank feed transaction for the balance - you would match this to the pay transaction which is the reduced net amount
- Thanks for your response Tracey.I choose to follow the second option and make a deduction which is then allocated from the bank feed to Payroll DeductionsThe problem arises matching the bank feed for the balance as the 'Match transaction' does not display the reduced net balance as anticipated.It is picking up the net balance after tax which includes deductions ??
Hi KayeC
The bank feed transaction for the balance is matched to the pay transaction.
I've used the Child support deduction in the following example. The pay transaction has a net amount of $519 which is gross $602 less PAYG $58 less Child support $25:
In Bank transactions the bank feed is matched to that pay transaction:
The second bank feed transaction for the deduction amount is allocated to the deductions liability account:
Please let me know if you need further help.
