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How do I process re-paid Net Salary from Employee

Denize Hooton_9171871

We have an employee who has repaid his net pay to us, for us to re-process with increased salary packaging. I have done a Journal entry to record the deposit into the bank, but not sure about the contra account. I chose Employee Wages but then the deposit does not appear in the list when I go to do a Bank Rec. I am out of balance by that amount.

Comments

Bruce

If the employee has re-paid the whole of his pay you could consider deleting the original transaction and replacing it with the revised transaction.
You will need to lodge a STP update file and also you will need to be very careful with your leave balances

glendaveale

I don't think you should delete the original pay, just edit the pay run for this employee and then update the stp. You will need to pay him for the pay run if he has already repaid you for the previous pay.

Bruce

yes, Glenda's suggestion is super sensible

Acctd4

Hi Denize

My preference is to pay the 'wrong' pay as a “Write Chq” posting directly to your “Employee Wages” expense account with no tax code. Then simply record the repayment as a “Deposit” posting back to the same account. This offsets/clears this part.

(You may get a warning about paying an employee via Payroll – this is fine)

TIP: Stand-alone Deposits drop-out the “Payee” name meaning the transaction doesn’t automatically show in the Payee’s transactions list. This is a long-term (very annoying!) glitch but is easily rectified by simply locating the transaction in the bank account register & selecting/adding the Payee Name there & re-saving by clicking “Record”.

Then, amend the date of the employee’s actual (amended) Pay & re-lodge the STP for this J

This ensures all transactions are captured & all accounts are balanced.

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

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