Help on payroll - previous wages showing gross amount

[RachelPCK]

Hi payroll gurus,

I am a volunteer treasurer from a non-profit organisation and I needed help please. We have just switched from Reckon Accounts Hosted to MYOB, and upon checking the statement (data that have migrated from other software) it shows gross wages amount. I know I will just have to do some changes to the settings, but does anyone here know how to do that please? I can't reconcile as it shows huge amount than what the bank is showing how much cash we have. 

If anyone here have experience and have switched from Quickbooks to MYOB, I'm sure they've been through this. I have called technical support of MYOB and it took me more than 2 hours to even get the chance to talk to them and it didn't fix the payroll settings issue - I've fixed it myself. This one however, I am not sure what to do.

I will appreciate any help on this.

Kind regards,

Rachel - Peel Community Kitchen

[Tracey_H]

Hi @RachelPCK 

Thanks for your post. I'll be happy to assist with this, I'll just need some more information. Are those gross wage amounts appearing as withdrawals in the Reconcile accounts window? Can you send me screenshots of where you're seeing the gross wage amounts?

Please make sure sensitive information is removed from screenshots prior to posting on the public Forum.

[RachelPCK]

[RachelPCK]

Hi Tracey,

Thank you for getting back to me, this was one of the payslips migrated from Reckon. I was just wondering if this has to be like this - the new payslips showing net amount (less the PAYG) so instead of $1,524.60 it only showing $1,232. Do I need to do anything with it? I am reporting STP now from MYOB. What else should I be aware of?

Thanks so much for the help.

Rachel

[Tracey_H]

Hi @RachelPCK 

That pay general journal looks correct to me. The net amount, $1232, is credited to the bank account as this is the amount actually paid to the employee.

The gross wage amount, $1386.00, is debited to the wages expense account as that is the wage expense for the business. The super guarantee amount, $138.60, is debited to the BT superwrap expense account as that is the super guarantee expense for the business. So the total business expense for this pay is $1524.60 (gross amount).

The super guarantee and PAYG amounts are credited to the Super payable and PAYG withholding liability accounts as these are liabilities that need to be paid. When the super payment and BAS/IAS payments are processed those liability accounts are debited, which clears the liability.

When you create a pay in MYOB Essentials the journal that is posted will be the same, you just don't see the accounts when you process the pay run. You can check the journal entry by running the Journal entries report.

You don't need to do anything with that general journal, it's just posting the amounts to the applicable accounts so the financial information is correct. You may need to reconcile the net pays posted to the bank account and the liability accounts, it depends what was done in the old software prior to migration. It may be worth having the accountant assist with checking all the data is correct and up-to-date. 

This Help Article, Check your MYOB business after upgrading, has got steps to go through to set up and check the data in your file, including the bank reconciliation.

You might also find these Help Articles useful:

Setting up payroll

Single Touch Payroll reporting

Reconciling your bank accounts 

Please let me know if you need further help.

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