Bank Rec - split pays and clearing account. not reconcilling

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Contributing User asmith
5 Posts
Contributing User
Contributing User

5Posts

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Bank Rec - split pays and clearing account. not reconcilling

I had 2 pays that were paid in 2 instalments - so I deleted the pays, setup a clearing account and then have manaully allocated the payments to the clearing account. The clearing account balances back to nil.

 

Problem is in the bank rec - the bottom 2 transactions are the totals of the split pays. They aren't outstanding at 30/6/19. What am I not doing correctly?

 

Thanks

bank rec.PNG
1 REPLY 1
MYOB Moderator Steven_M
32,166 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,166Posts

4,271Kudos

0Solutions

Re: Bank Rec - split pays and clearing account. not reconcilling

Hi @asmith 

 

Based on the screenshot you have provided, those payroll transactions are still listed in the business. So you mentioned that you deleted the pays, when this was done did you select Save on the employee's record? If not, those pays are still included and would need to be deleted and the employee's record saved. See Help Article: Changing or deleting a pay

 

In theory, if you have paid in installments, you would have a holding account set as the Bank Account for Paying wages before processing the pays. You would then do Spend Money transactions from the main bank account to the holding account for the amount paid to which you would match with the bank transactions.  From what I can see by having those additional transactions (i.e. the original pays) in the system you may be doubling up on your wages - the payroll transaction and the banking. 

Kind regards,
Steven

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