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No 'Match Transaction' option for Wages in Bank Feed (Allocate Transaction)

Perfectionist
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No 'Match Transaction' option for Wages in Bank Feed (Allocate Transaction)

Ever since the new MYOB interface has been rolled out, I've been unable to Match Transaction with employees pays  when allocating transactions from a bank feed.

 

I pay each employee seperatley (seperate bank transaction) the amount on the bank feed matches the amount in the pay run for each employee exactly. The correct bank account is linked to the correct payment type (e.g bank account for cheque payment is the account we pay employees from).

 

Previous to the new interface I would just select 'Match Transaction' and there correct account would be credited/debited. Now the 'Match Transaction'option simply doesnt appear, so I have been allocating the wage spend using 'Spend Money' and selecting a Wages Expense account (same account I use when creating payruns), this of course then doubles the ámout seen in the Wages account on the P&L statement.

 

What do I need to change to get 'Match Transaction' to appear again on the bank feeds?

4 REPLIES 4
Tracey_H
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Re: No 'Match Transaction' option for Wages in Bank Feed (Allocate Transaction)

Hi @Perfectionist 

 

Thanks for your post. Recording Spend money transactions will cause the wage accounts to report incorrect amounts, so you'll need to delete those transactions.

 

So that I can work out why your payroll transactions aren't appearing to be matched can you please send screenshots of the Bank transactions window and a pay transaction. For the pay transaction I just need to see top half showing the Payment method and Account. Please make sure you remove any sensitive information from screenshots prior to posting on the forum.

Cheers,
Tracey
Previously @bungy15

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Perfectionist
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Re: No 'Match Transaction' option for Wages in Bank Feed (Allocate Transaction)

Thanks for the response. So I've worked out that I has selected pay employee buy electronic payment and link electonic payment to an Electronic Payment Account.

 

I've unmatched all the wages I had allocated to the wages account, so is it just a matter of allocating them to the electronic payments accounts? It looks like allocating them there will make the electronic payment account balance back to $0.

 

Or do I need to completely undo the payruns and re-do them to the correct accounts? Seems a little painful and I dont want to do this unless absolutely neccessary (particulary as Im concerned what this does for STP).

Perfectionist
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Re: No 'Match Transaction' option for Wages in Bank Feed (Allocate Transaction)

Also I'm having trouble with the following scenario.

I paid an Employee incorrectly, so I undone and then redone the payrun. I made two transactions in my bank account. How do I get these two transactions to match the payrun in the bank feeds?

Tracey_H
MYOB Moderator
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Re: No 'Match Transaction' option for Wages in Bank Feed (Allocate Transaction)

Hi @Perfectionist 

 

You need to go to Payroll>>Prepare Electronic Payments and create the electronic payment. You don't need to upload the bank file to the bank as you've already paid the wages but this will record the transaction that moves the amounts from the electronic clearing account to the bank account.

 

For the second issue, if you've processed a pay incorrectly and haven't paid the employee match the correct pay transaction with the bank transaction. In the Reconcile accounts window you can tick the incorrect pay with the reversal to manually reconcile those transactions.

 

If you've processed a pay incorrectly and have paid the employee it's best to process an adjustment pay instead of reversing and reprocessing. This will allow you to match the pay transactions with the bank transactions.

 

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.

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

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