Underpayment of wages

Jo Arnold
Jo Arnold Member Posts: 90 Reckoner Reckoner
in Reckon Accounts (Desktop)

I have accidentally underpaid wages through the bank account. The payslip is correct so I don't want to change it. The underpayment amount has now been paid. I just need to figure out how to process this through the bank account in Reckon.

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    When you reconcile, the wages cheque will be entered and so this will match the 2 actual payments that came out of your bank. You will just have to reconcile after the underpayment goes through

  • Jo Arnold
    Jo Arnold Member Posts: 90 Reckoner Reckoner

    Thanks Kris. I thought of that but wasn't 100% sure if it was doable.

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    I would just make a note on the underpayment cheque referring to the fact that it is adjusting the original pay,ent

  • Antipodean01
    Antipodean01 Member Posts: 18 Reckoner Reckoner

    Kris could you please elaborate? In my case for July to Sept (inclusive) the details in the three pay runs are correct. That is, the nett wages and PAYG withheld, based on the 2024-25 tax rates. But for the three months, through the bank, last year's net wages were paid, a difference of say $80 per month, given the new tax rates.

    How do you suggest I fix this?

    Do I debit the bank account to make good the underpayments, say $240 for the three months?

    If so, what adjustments to the pay runs should I make?

    Or do I do something else?

    Please advise. Thank you.

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    So this error was in last financial year correct - so you can’t change the actual pays. if you know what the exact shortfall is in Gross and tax you could just do an additional payrun dated now for the gross and overwrite the tax amount to what you have calculated.

  • Antipodean01
    Antipodean01 Member Posts: 18 Reckoner Reckoner

    Sorry, for any confusion the errors are in this FY: July, Aug and Sept 2024.

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    well you can still do an additional payrun, if you don’t want to change the existing pays. You’re welcome to give me a call in the morning - after 9 Sydney time

  • Antipodean01
    Antipodean01 Member Posts: 18 Reckoner Reckoner

    I'll call, thank you. What's the best number?

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    0415 940843

    Kris Williams

  • Antipodean01
    Antipodean01 Member Posts: 18 Reckoner Reckoner

    Many thanks Kris for sharing your knowledge regarding my small problem and your clear explanations. I know who to ask in future if I have any more queries.

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    glad to be of help, enjoy the rest of the long weekend

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