Amending PAYG on a Payslip
Leanne_7663246
Member Posts: 109 ✭✭
Hi
Hoping someone can help. I have an employee who has had 5 pays. We have just found that she was set up as weekly employee and not fortnightly. Therefore the PAYG deducted is to high. These pays are only for Dec and Jan so the PAYG hasn't been lodged with the ATO. Besides going in and amending each payslip and paying her the difference is there a way to do a bulk adjustment of the payg so that I can pay her what she is owed and my PAYG figures are correct to lodge with the ato. I have found the payroll liability adjustments and I can enter those but how do I show that I am transferring the money to her (ie it comes out of the chq register).
thanks in advance.
Hoping someone can help. I have an employee who has had 5 pays. We have just found that she was set up as weekly employee and not fortnightly. Therefore the PAYG deducted is to high. These pays are only for Dec and Jan so the PAYG hasn't been lodged with the ATO. Besides going in and amending each payslip and paying her the difference is there a way to do a bulk adjustment of the payg so that I can pay her what she is owed and my PAYG figures are correct to lodge with the ato. I have found the payroll liability adjustments and I can enter those but how do I show that I am transferring the money to her (ie it comes out of the chq register).
thanks in advance.
0
Comments
-
Hi Leanne,
The adjustments window should create the following transaction: (assuming the extra PAYGW is $100)
PAYG DR $100
Wages CR $100
(incorrectly crediting wages when we want to credit the bank account)
I would then run an unschedule payrun and adjust the tax and super down to zero.
this will create the following payroll transaction:
Wages DR $100
Bank CR $100
run your payroll totals report after to make sure it has included both the adjustment and the unscheduled payrun to give the corrected balances and ensure that they show up on the payment summaries.
go into the unschedule paycheque and write a memo in the memo field (as Reckon won't allow notes on the actual payrun)
0 -
Hi Leanne, You will need to manually adjust each individual pay & the employee will then be owed what they have been over taxed. My suggestion would be to print payslips so your have a record of what was paid before making any adjustments. Hope this helps Kind Regards Kay kmlbookkeeping@bigpond.com0
-
Thank Kay for the help0
-
Thanks Shannon for the help0
-
Hi Leanne. I have a simple solution for you which you can document as you go along.
1. Determine (if you haven't done so already) the amount of tax overpaid. You can use the ATO's tax withheld calculator to do this.
2. On subsequent pays, adjust the new amount of tax payable, downwards by the amount of the overpayment (or reduce the tax on each pay to zero if there is insufficient tax to be deducted in just one pay), until such time as all of the overpaid tax has been recovered. This doesn't require you to make any back adjustments and simplifies everything.
3. The records that you keep will start off with the amount of the overpayment, less the subsequent reductions, until the overpayment figure is back to zero.
John L G0
Categories
- All Categories
- 6.8K Accounts Hosted
- 10 📢 Reckon Accounts Hosted - Announcements
- 6K Reckon Accounts (Desktop)
- 3 📢 Reckon Accounts Desktop - Announcements
- 1.2K Reckon Payroll 🚀
- 21 Reckon Payroll Help Videos 🎥
- 21 Reckon Mate App
- 18 📢 Reckon Payroll - Announcements
- 3.1K Reckon One
- 7 📢 Reckon One - Announcements
- 11 Reckon Invoices App
- 14 Reckon Insights
- 114 Reckon API
- 830 Payroll Premier
- 325 Point of Sale
- 1.9K Personal Plus and Home & Business
- 73 About Reckon Community