Thursday, 23 August 2012

Reconciling Payroll

Dear Platinum,
I got one problem in reconciliation and I think you will bring that in track. The problem is I need to reconcile the bank statement but I do not do payroll and I can not see any amount being paid in the bank register, though it is already being processed, according to payroll officer. so how can i bring the amount in the bank register as paid if it is already been paid. And i know it is not being paid through electronic payment. I hope you will suggest me what I need to do just to get the paid amount into the bank register.
thank you very much

1 comment:

  1. Hi Madhav,

    Hope you are well. Thanks for the question.

    In this case, if you are not handling payroll and you also don’t see the payroll amount coming out of the bank accounts that you need to do reconciliation on, you really don’t have to worry about it. For confidentiality purposes, a lot of companies will set up separate accounts to process wages and salaries. They dont want finance staff knowing each others pay. In this case, Payroll staff will have to process the payments and do the reconciliations.

    Good luck and regards,