Superannuation Reversal - AccountRight

[Kimmy12345]

Hi Community,

I have some issue with my super for February -(paid 16/3/22) as MYOB Manage Payments has a status of "Reversal Required". I havent reversed a whole Super Payment before so  want to ensure nothing else will be affected.

At the moment the amount of the super I attempted to pay last week is sitting in the bank register as though it has been debited from my bank account  There is no  withdrawal in the bank account so I am out in my reconciliation by this amount. I am guessing when I reverse the Super, the bank reconciliation will balance and I reprocess as per normal? Also when I reverse it, will the payments required re-appear in the PAY SUPER correctly for Feb which I was originally paying. Thank you in advance for your help.

[CloverQ · Accepted solution]

Hi @Kimmy12345 

You are on the correct track, once the Pay Superannuation transaction is reversed, all the associated super contributions will re-appear in the Pay Superannuation window, where you can tick and re-process them.

Since your bank account wasn't actually charged of the initial super payment, you don't have to worry about dealing with full/partial refunds. In AccountRight the initial Pay Super transaction and the reversal will cancel each other out, leaving the new Pay Super transactions to be reconciled with the actual charge on your bank account.

If you haven't already, I'd suggest checking out this Help page on the topic of Reversing and reprocessing superannuation payments for a detailed run through, your situation is simpler as there's no actual returned super payments.  

I hope this helps. If you have any further questions please feel free to let us know. 

[Kimmy12345]

Hi @CloverQ ,

Thank you for your reply - I did do that with the assistance of a MYOB Specialist as I put in a call at the same time as looking for advice here. It worked and I did re-process the Super 2 days ago 28/3/22.

The status in the Manage Payments window is still saying "Processing Payments" so now I am concerned that it wont work again. Is this time delay normal now that there has been a change in the backend of procesing the super? I feel like it will be throwing my accounts out as if it goes over March 31, MYOB will show super has been paid but the bank account wont reflect this so my reconciliation will be out. 

Any help/advice again would be appreciated

[CloverQ]

Hi @Kimmy12345 

Thanks for the update.

It can take a few days for the status to be updated to 'Completed',  and it will only update when an Pay Super administrator/authoriser logs in to the Manage Payments window. 

If the payment status is still 'Processing Payments' now after logging in to the Manage Payments window, and your bank account hasn't been charged, you will need to check the following:

• the Super fund name entered into your software matches what is on the ATO Super fund look up page: superfundlookup.gov.au 
• the employee is registered for the correct fund as some funds share the same USI. 

Once these are updated, reverse the pay super transaction and reprocess it again.

[Kimmy12345]

Hi CloverQ, 

My super still has a "processing payment" status. I have looked at the USI numbers and they look correct. If there was an error with the superfund names/numbers wouldnt the payment status reflect this?

I am lost as to what to do as it is neither telling me to reverse nor telling me there is an error with a particular employees payment nor asking me to reverse. 

Previously we would see a little red cross next to an individual payment which was incorrect. What is the process now? I have been fighting with this super payment since 16/3/22 and am not getting anywhere and now would normally do March's payment but not sure if I should wait until I get Febs through or just go ahead and do March's and hope for the best. I really need help here.

[CloverQ]

Hi @Kimmy12345 

Apologies for the delay in responding. I can see that you've also posted here regarding your super member numbers and one of our moderators has provided information for, has it solved your problem? 

In short, if the super payment is stuck in 'processing' and no money has left your bank account, typically it can be caused by incorrect/duplicate super fund details. So please do check through all your fund details entered match ATO's database, employees are linked to the correct super fund as some funds share the same USI but have different names, all SMSF ABN value must be unique as in one SMSF can only be linked with one ABN and one ESA. 

Only when all the above are checked and rectified, reversing and reprocessing will go through then. Please do let us know if you need further assistance.

[Kimmy12345]

Thank you for the response. The problem has been resolved now. I had to reverse the same payment twice as there were different issues - mostly related to changing fund names and USI's. One of the issues was also a new employee who was new to the superfund. I changed his member no from UNKNOWN to all 1's and that worked.

My issue with the second reversal was that it took over a week to come back with 'reversal required'' so I didnt know if there was a problem.

I have now processed the following months payment (March's on 7/4) and am waiting again - hopefully there is no issue this time.