Employee Wage bounced back into the bank
How do i reflect this in my reconcilliation
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Should i treat this as a refund? like i would a supplier?
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I would enter the deposit (make deposits) into a clearing account and when you pay it back to the correct account post to the same clearing account. The Gross and tax are already entered correctly in the original pay transaction
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Create the original (bounced payment) as a Write Chq transaction to the Employee, posting to your Gross Wages expense account. (You can post it to any account - including a Clearing account as Kris suggested - as long as the Deposit also goes back to this same account also) - IMPORTANT: Do NOT enter a tax code, this MUST be left blank:
Then - as per Kris's advice above - enter the return refund via Make Deposit, using the same Employee name & [Gross Wages] account again, to offset it:
A long-term glitch in the system drops out the name on stand-alone deposits, preventing it displaying under the payee's name in lists/reports so go to your bank register & add the ("Payee") name back in there:
Correct the actual Paycheque date to the date it went through (when you re-sent it) & you will then be able to see all the transactions accurately displaying what's happened:
& under the employee name also:
& allows you to account for all entries correctly in your bank rec:
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What do i do with the two payments, as he is already paid with the payrun and now i have him in the system as being paid twice.
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He opted to be paid later in the year.
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which fell in the new financial year.
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Change the date of the one in the pay run to the actual payment date (eg to the new financial year)
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