Payroll not matching bank transaction

[EG]

Hi all,

I'm using MYOB Essential + payroll for a client which I'm running a catch up for (3 months worth!).

I have entered in the pay runs as per their reports.

The owner is not paying himself the exact amount eg:

Payroll = $1450.18

Transaction = $1450.00

Therefore, the transaction is not matching the payroll. Any suggestions as to how to rectify this? I will be requesting they start paying actual payroll amount but for now, I need to sort this out.

Thanks in advance,

[CloverQ · Accepted solution]

Hi @EG,

The general idea is that what's recorded in the software should reflect what happened in real life. And in Essentials Accounting, in order to match the bank transaction to the payroll transaction, their amounts need to match perfectly. 

If the owner intend to make a separate transaction to make up the difference, e.g. a separate transfer of $0.18, you can delete the original pay, temporarily set up split pay by dollar figure, then record the pay again as normal, it will create two entries that you can match the bank transactions to.

If the owner will add the missing payment in one of his future pays, then you can delete the original pay and re-record it, use a deduction to reduce the take home amount by $0.18, then use an allowance to add this amount in the next pay run. 

Hope this helps. Feel free to let us know how it goes.

[EG]

Thank you Clover.

This is a bit of a messy catch up where payroll was not completed properly. Moving forward, the transactions will match! 

Thank you for the information. It has been helpful to correct the past transactions.

 Kind regards,

EG

[CloverQ]

Hi @EG,

You are most welcome! Glad that I could help.

Hopefully it's all smooth sailing from here on, if you do run into any problems, please feel free to post again at any time!