an old employee has accidentally received a wage from the company in error, the employee has returned the funds back via a bank transfer. How would i record this in Reckon Hosted?
If the payment & return are both in the same month, I would post both to the Wages expense account.
Enter the payment as a Write Chq to the employee name - Do NOT use a tax code on it.
Then enter the return as a Make Deposit, from that same employee name, back to that same Wages expense account.
These transactions will then offset each other 😁
Perfect, thank you so much :)
A question to you, Shaz. If this payment was reported to the ATO via STP would there not also be a need to delete the payment from the original lodgement and re-do it? John
@John Graetz Absolutely … but CuttingEdge stated an old employee happened to be paid "accidentally", so I took that to mean a Paycheque was never actually created (eg that they just EFT'd money to the wrong person) … in which case it wouldn't have been reported via STP in the first place 🤔
@CuttingEdge Can you please confirm that's the scenario ? If it was actually processed via payroll as a Paycheque, then my previous advice is incomplete as in that case yes, you would indeed need to also delete the inadvertent Paycheque !!!!
can confirm not processed through payroll or reported to ATO
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