Forum Discussion

Caruggi's avatar
3 years ago

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    The bank feed is the transaction brought into your file from your bank and is the amount actually withdrawn from your account, as such, you can't change it.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.