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Paying employees manually

LSolutions
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Paying employees manually

Good Morning,

 

I am trying to help my friend who recently joined MYOB for a new business and is on the New Essentials platform.  My file hasn't been upgraded yet so it has been a bit tricky at times as it's so different to mine.   

 

They have payroll set up for two employees.   They were going to pay electronically as MYOB kept suggesting it using Bank Files or Direct Pay but after talking to ANZ they found this is all at an additional cost so they are just paying their employees manually themself through their bank.   The Elecronic payments linked account has been set to an Electronic Clearing account however as the Employees are flagged to be paid Electronically it prompts her to create a bank file which in turn won't match to her bank feed as she is paying her employees in two seperate transactions as opposed to a joint transation that the bank file created.   As an interim work around she deleted the electronic payment and did a bank file for each just so it would match but going forward what is the correct set up for paying manually?      I suggested changing the payment method for each employee to Cheque and then changing the linked Cheque account to the bank account they are paying from?

I just want to double check if this is the only way?   

 

The previous Essentials was much more straight forward in that you just had the employee option of 'pay using bank file' unticked,  ran your payrun and you could match your bank feed to the payrun transaction, you didn't need to worry about linked accounts.

 

Your help is appreciated.

 

Regards

Kristy

4 REPLIES 4
LRBooks61
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Re: Paying employees manually

I agree , your suggestion is the best one. The bank charges you any which way you do your transaction. Is your client charged that much more for uploading the aba file than two seperate transactions?

 

Lisa

LSolutions
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Re: Paying employees manually

Thanks Lisa for your response, they advised $15 per month to upload bank files which was not worth it for them. They have to login to the bank anyway to upload a file so they are happy to just make the payment themselves.

CloverQ
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Re: Paying employees manually

Hi @LSolutions 

 

It's perfectly fine if your friend just wants to pay her their employees manually. The electronic payment/bank file option is merely there as a shortcut option for people who want to save time from manually paying employees 1 by 1. It also minimises data entry mistakes so the correct amounts are paid.

 

Your friend can certainly hit bank file for each employee to create individual payments, it would show a clear audit trail that it was paid electronically and when it was paid. Another way is as you mentioned, change the payment method to Cash or Cheque, set the linked account to the desired bank account. This way as far as the software is concerned, the payments are made when the payroll transactions are entered, bank account balance is updated straight away. Please note that changing the link account doesn't affect transactions already recorded, feel free to take a look of this Help article on managing linked accounts as well. 

 

I hope this helps.

Cheers,
Clover

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LSolutions
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Re: Paying employees manually

Great thank you.

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