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Matching mutiple bank transactions to one payroll transaction

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Contributing Cover User MattyW
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MattyW
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Matching mutiple bank transactions to one payroll transaction

Hey there,

 

I made a mistake with paying one of my employees yesterday. I paid her slightly less than I was supposed to and had to pay her the difference in a separate bank transaction. This has meant that I have two bank transactions that equal one payroll transaction and unfortunately I can't get MYOB to match them. Any ideas on how to fix this?

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MYOB Moderator CloverQ
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CloverQ
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Re: Matching mutiple bank transactions to one payroll transaction

Hi @MattyW,

 

In this case, I'd suggest following this Online Help article to delete the original pay, temporarily set split pay for this employee then record the pay again. This way you are still recording one payroll transaction, but will have two entries in Essentials to match the bank transactions with. 

 

Split a pay between multiple bank accounts

 

Please feel free to let us know how you go.

Cheers,
Clover

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Contributing Cover User MattyW
7 Posts
Contributing Cover User
MattyW
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Re: Matching mutiple bank transactions to one payroll transaction

Hey there Clover,

 

I searched through the community topics and found someone who had a similar problem. They suggested that I pay these two pay transactions into a payroll clearing account and then create a journal entry to balance everything out - which seemed to work ok. Does that sound right to you?

MYOB Moderator CloverQ
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MYOB Moderator
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CloverQ
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6805Posts

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1087Solutions

Accepted Solution Solved Solution

Re: Matching mutiple bank transactions to one payroll transaction

Hi @MattyW,

 

This method can also reconcile the account. However, personally I would prefer a direct matching of the bank transactions to pays in Essentials Accounting, over indirectly transferring the balance via allocating bank transaction to a clearing account, then another journal entry.

 

In the end, it would be up to you which method to use. Hope this helps.

Cheers,
Clover

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