cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Want an expert to help you set up your QuickBooks Online? Find out how: Click here
KerynC
Level 1

Returned pay

My employee's pay has been returned and we then had to pay it back through again. How should I account for this in the bank reconciliations etc?

1 Comment 1
Bonny_
Moderator

Returned pay

Hi KerynC,

 

For documentation purposes, I would recommend adding/matching the 'returned funds' transaction and the 'paid back' transaction into your books. Since these transactions should cancel each other out, it should not reflect a discrepancy in the bank reconciliation.

 

Hope this helps!

 

Bonny