Forum Discussion

Feebie's avatar
Feebie
Trusted Cover User
4 months ago

Pay reversal not being seen to match up in transactions

Hi there

we had an instance where an employee who is paid not by electronic banking, but by direct banking transfer thru the actual bank, was overpaid. The owner who processed the pay rang the employee and the employee was happy to pay back the money into the account, we reversed the pay and processed a correct one and paid that to the employee.

Now reconciling the bank, the first transaction - the overpaid amount matched off fine. The reversal is sitting in the bank account, but not showing up in the transactions to match it against.  As stated before, we do not use the electronic banking feature for the pays.

How do I match the reversal sitting in the bank account,  against the actual payment that went into the bank showing on transaction feed, when the reversal doesn’t show up in transactions to match against?  Thank you.

  • Genreve_S's avatar
    Genreve_S
    4 months ago

    Hi Feebie , 

     

    I see that the reversal won't match any of the transactions. Generally, the best way to process an overpayment is to create a pay run with just the amount of adjustments. Bank feed transactions are only designed to match transactions with the same values, so it's recommended to create the pay runs with how it happens in real life. If the overpayment was returned, you instead must create a pay run with the amount of returned value. I recommend reading through the article 'Fixing a Payroll Overpayment or Underpayment' for better insight regarding this. 

     

    In the meantime, feel free to create a new thread if you need any other help. 

     

    Thanks,

    Genreve

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    4 months ago

    Hi Feebie , 

     

    I see that the reversal won't match any of the transactions. Generally, the best way to process an overpayment is to create a pay run with just the amount of adjustments. Bank feed transactions are only designed to match transactions with the same values, so it's recommended to create the pay runs with how it happens in real life. If the overpayment was returned, you instead must create a pay run with the amount of returned value. I recommend reading through the article 'Fixing a Payroll Overpayment or Underpayment' for better insight regarding this. 

     

    In the meantime, feel free to create a new thread if you need any other help. 

     

    Thanks,

    Genreve

    • Feebie's avatar
      Feebie
      Trusted Cover User
      4 months ago

      Thanks for the reply. I just did a manual rec - the ins and outs are correct - they just don’t match up. It was the employees choice to completely refund the money and we do another pay run- which is what we did. I’ve been having issues with bank recs and put a different post about that in the bank rec section! 
      Also - I’m having to to get into the forum on my iPad as for some reason I can’t login from my laptop - I’ve tried deleting the cache - all of it, rebooting, and logging in both from the Google search and from my.myob (which I can get into) - but when I click on community forum, it gives me a message Internal Server Error ?  Would you have any idea about that ? **sigh**

      • Genreve_S's avatar
        Genreve_S
        MYOB Moderator
        4 months ago

        Hi Feebie,

         

        It seems that the issue is the matching of bank feeds to the transaction, not the payroll adjustment. Thank you for clarifying. Generally, the reconciliation comes after bank transaction matching, as reconciling or marking the transaction from the reconciliation screen prevents the transaction from appearing in the Bank Transaction window. I recommend undoing the reconciliation where the transactions you are trying to match are included in and unmarking them in the reconciliation window. You can then redo this after matching them to bank transactions. 

         

        Let me know if you need more help with this.

         

        Thanks,

        Genreve

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