How do I correctly allocate pays on MYOB Essentials?

Highlighted
3 Posts
User

3Posts

0Kudos

0Solutions

How do I correctly allocate pays on MYOB Essentials?

Hi,

 

I am wondering whether we are duplicating allocations for pays. We are allocating pays to our dropdown menu Wages but I notice that while doing reconciliations it also allows me to allocate the pay to a particular payroll ie 'matched to payroll'. We pay our staff manually - I should really do it electronically as it would save time. My concern though is that we appear to have been counting payrolls twice - creating a duplicate. Is that possible?

6 REPLIES 6
Highlighted
Ultimate Partner
1,055 Posts
Ultimate Partner
Australia
Ultimate Partner

1,055Posts

771Kudos

193Solutions

Re: How do I correctly allocate pays on MYOB Essentials?

Hi @ProvidenceSaili 

 

When you set up payroll, you nominate which bank account the payment must come out of. If you select you bank account, then each payment will already be recorded. You must match the bank feed to it, as you suspect.

 

By allocating the bank feed to wages, you are indeed doubling up.

 

 


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

Highlighted
3 Posts
User

3Posts

0Kudos

0Solutions

Re: How do I correctly allocate pays on MYOB Essentials?

Thanks Ian. I've just taken over and apparently no one had changed the bank account settings that the payroll was coming out of until a few months ago. So the payees were being allocated to wages and I believe duplications were occurring. That's what our accountant said. So how do I go back and match those employees when doing the current BAS if the wrong bank account was noted under payroll settings?

Highlighted
MYOB Moderator
2,307 Posts
MYOB Moderator
MYOB Moderator

2,307Posts

355Kudos

326Solutions

Re: How do I correctly allocate pays on MYOB Essentials?

Hi @ProvidenceSaili 

 

Further to @IanChait's reply, if you have allocated pays to your wages account, this will have created a Spend Money transaction, resulting in the duplications. To correct this you would need to delete the Spend Money transactions and match the payroll transactions to bank transactions.

 

These help articles will help with this:

delete Spend Money 

Matching bank transactions 

Allocating 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

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Highlighted
Ultimate Partner
1,055 Posts
Ultimate Partner
Australia
Ultimate Partner

1,055Posts

771Kudos

193Solutions

Re: How do I correctly allocate pays on MYOB Essentials?

Hi @ProvidenceSaili 

 

@Tracey_H has replied with links to fix the problem. To prepare the BAS, you can print the Payroll Summary Report which will have the correct Payroll figures that you will need for the period.

 

You can then correct the entries later.


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

Highlighted
3 Posts
User

3Posts

0Kudos

0Solutions

Incorrect bank on settings and difficulty matching payroll

Thanks Ian and Tracey. 

 
Thanks for previous answers.
 
 Just one other question we changed banks and this was not fixed on our settings so the payrolls I think in November are not matching. how do I match those to finalise our current BAS?
Highlighted
Ultimate Partner
1,055 Posts
Ultimate Partner
Australia
Ultimate Partner

1,055Posts

771Kudos

193Solutions

Re: Incorrect bank on settings and difficulty matching payroll

Hi @ProvidenceSaili 

 

For the BAS, you only need W1 ans W2 for wages. These figures are the totals on the Payment Summay Report. So you don't need to fix the bank entries to prepare the BAS.

 

The quick way to fix the bank entries, is to allocate the wage payments on the bank feed (the account from which they were actuall paid) to the account that was used when processing the pay run. You can the go to the Bank Reconciliation screen, select the account that the payroll was recorded to, and manually tick the debits and credits relating to the payroll entries.

 


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post