Forum Discussion

Caruggi's avatar
Caruggi
User
3 years ago
Solved

Bank feed amount different to transaction

[ Spoiler ] I put through an electronic payment on the 9th after 5pm for 641.83 but its showing as 597.70 on the bank feed - thats the amount that came out of the account -  on the 10th. Its a wage ...
  • Tracey_H's avatar
    Tracey_H
    3 years ago

    Hi Caruggi 

     

    The bank feed is the transaction brought into your file from your bank and is the amount actually withdrawn from your account, as such, you can't change it. The AccountRight transactions need to be the same as the bank transactions in order for the account to reconcile.

     

    If the bank feed transaction is $597.70 and the pay transaction is $641.83 the employee has been underpaid. To match the bank feed transaction with the pay transaction you would need to reverse the pay transaction and reprocess with the net amount of $597.70. You would then need to process an adjustment pay for the underpaid amount.

     

    The other option is to transfer the underpaid amount to the employee's bank account. In the Bank feeds window right click on the two bank feed transactions (original pay and underpaid amount) and select Hide. Then in the Reconcile accounts window tick the pay transaction. The two bank feed transactions need to add up to the net pay on the pay transaction.

     

    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.

Tracey_H's avatar
Tracey_H
Former Staff
3 years ago

Hi Caruggi 

 

Thanks for your post. If the net amount on the pay transaction doesn't match the amount actually paid you will need to delete/reverse the pay transaction. Then reprocess that pay so that the net amount matches the paid amount.

 

If you need to reverse the pay transaction that reversal will appear in the Prepare electronic payments window. In that window, tick the reversal transaction and click on Bank file. You can then manually reconcile the original pay transaction and the reversal in the Reconcile accounts window by ticking them.

 

Changing a recorded pay

 

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.

  • Caruggi's avatar
    Caruggi
    User
    3 years ago

    Thanks for your reply

    I need the bankfeed to match the pay, not the other way around as the bankfeed is lesser than the payslip if I reprocess to match I would be underpaying them (or have). The difference doesn't match an hourly rate, so I can't do a lesser amount to make up the difference.

    If I do the whole pay as a new transaction then they will be paid twice?

    The pay/transaction amount  and ABA was for 641.83 and that is showing on the . Bankfeed is 597.70 

    641.83 is on the Bank Register and on Reconcile accounts.

     

    Thanks

    • Tracey_H's avatar
      Tracey_H
      Former Staff
      3 years ago

      Hi Caruggi 

       

      The bank feed is the transaction brought into your file from your bank and is the amount actually withdrawn from your account, as such, you can't change it. The AccountRight transactions need to be the same as the bank transactions in order for the account to reconcile.

       

      If the bank feed transaction is $597.70 and the pay transaction is $641.83 the employee has been underpaid. To match the bank feed transaction with the pay transaction you would need to reverse the pay transaction and reprocess with the net amount of $597.70. You would then need to process an adjustment pay for the underpaid amount.

       

      The other option is to transfer the underpaid amount to the employee's bank account. In the Bank feeds window right click on the two bank feed transactions (original pay and underpaid amount) and select Hide. Then in the Reconcile accounts window tick the pay transaction. The two bank feed transactions need to add up to the net pay on the pay transaction.

       

      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.

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