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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?
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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