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multiple wage expense accounts

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Bluewater1
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Bluewater1

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multiple wage expense accounts

Hello

 

I converted my old myob file to online back in October last year. When this happened myob converted the file for me. Since then I've had wages recorded into account 6-6200. Previously they were in 6-5130 in the old myob. I now have the two accounts showing wages up to October in one and after October in the other. Payslips sent now only show the YTD with the total since October. Reports show wages in both accounts.

 

Can I somehow move the old 6-5130 data into the new account or have the payslips reflect the total of both?

Thanks

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MYOB Moderator Theresa_D
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Theresa_D
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Re: multiple wage expense accounts

Hi @Bluewater1 

 

Thanks for your post. Currently MYOB Essentials allows for one expense account for Wages and Salaries and not for multiple wage categories.  Account balances can be moved over into a journal entry but will not impact the YTD total in payroll reports.

 

I assume you moved from AccountRight to Essentials in October, if that is not the case let us know. Were the payroll transactions prior to October moved over to journal entries? The payroll reports will only look at payroll transactions not account balances.

Cheers,
Theresa

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Bluewater1
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Bluewater1

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Re: multiple wage expense accounts

Hi Theresa

 

We did move from Accountright Plus to Essentials and myob transfered the existing file for us. There are journal entries but they're into the old account which doesn't reflect in the reports.

 

There must be a way to move them into the new account?

MYOB Moderator Theresa_D
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Theresa_D
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Re: multiple wage expense accounts

Thanks for clarifying @Bluewater1 

 

You can record a journal entry to move the account balance from one expense account to another but this will not impact the YTD figure in STP.  This is because STP only reports payroll transactions not journal entries. Usually it’s better to transition software/information at the beginning of the financial year but we can work around it.

 

To report for STP at the end of payroll year you can delete past payroll transactions that are now in journal form then rerecord them as payroll transactions. When you rerecord the transactions, you can do them normally one at a time or do a bulk run to get the total figures in one transaction. 

 

We understand that this is not ideal.  We recommend completing this year’s end of payroll year using the same payment summary as before.  This year you can override the gross payroll figures when preparing the payment summaries in Essentials. This help article Producing PAYG payment summaries will walk you through it.

 

I hope this helps, let me know how it goes.  

Cheers,
Theresa

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