Adjusting payroll after payment made

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I made a payroll entry for an employee.  The following week we increased the hourly rate and wanted to backdate it to the previous week.  I have gone in and edited the payroll to reflect the new changes and made an additional payment to the employee for the difference in wages/payg/super.
As the first payment was made in the previous month, my bank reconciliation does not reflect the changes and will not balance.

Is anyone able to offer a solution?
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Julie C

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Posted 4 weeks ago

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Hi Julie C

 

I would recommend using a Clearing account.  This is a dummy “Bank” account that you can utilise for transferring multiple amounts as a single payment.

You would generate the Wages payments out of this Clearing account, leaving it with a negative balance.  You would then enter the transfer(s) - as per your actual bank account – as payments out of the main bank account posting directly back to the clearing account (This clears the balance back to $ 0.00).

  

However, you’ve not submitted your question in a specific product thread or stated which product you’re using – eg Reckon Accounts (Desktop), Hosted, Reckon One or Reckon STP App.  Advice on how to process the above will depend on the specific product ??? 

 

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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Julie C

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Thanks Shaz, I am using Reckon Accounts Hosted.  My bank statement has a figure in October that is now different to the amount I have processed in Reckon which is leaving it difficult to process the bank reconciliation.