How do I record a journal entry for a payroll account error?

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Olwyn
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How do I record a journal entry for a payroll account error?

I need advice on correcting a payroll/bank feed error. For the last 2 months my wage payments had not been auto reconcilling, and I wasn't able to find the payroll transaction when attempting to match the transaction manually. I instead allocated it to wages. 

I have the now realised the cause of the error was that I changed the account I was paying wages from, and didn't change this in the payroll settings. I have ammend this today but now need to deal with all prior transactions. 

I don't believe I can delete and re enter at the payroll end, as I think this would interfere with payday filing that has already been submitted? 

The advice I've seen so far is to create a journal entry to allocate to the correct account. Can anyone advise how to go about this? 

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jenniek
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Re: How do I record a journal entry for a payroll account error?

Is this Essentials Payroll. Can you do a transfer money from the correct account (matching the actual money paid out) to the incorrect account where the journal went from?

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
Olwyn
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Re: How do I record a journal entry for a payroll account error?

Thanks Jennie, yes it is essentials payroll. 

I attempted your suggestion, and while it worked in theory it still leaves me with the problem of having payroll transactions in the system that are unallocated to the bank transactions. 

I could attempt deleting and re entering the payroll transactions, now that have the correct bank account set up, 

but I'm concerned that attempting this would mean I would be re filing all those submissions to IRD.. 

jenniek
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Re: How do I record a journal entry for a payroll account error?

Hi @Olwyn 

Turn the payday filing authentication off before you delete and redo the payroll - then it won't lodge to the IRD. The go back and re-authenticate it.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
Olwyn
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Re: How do I record a journal entry for a payroll account error?

Thank you again Jennie!
This solution works. A few transactions to go through but time is on my side in lockdown.

Kind regards, 

Olwyn. 

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