Superannuation paid to incorrect fund.

[klo]

Have just discovered that monthly superannuation payments for one employee have gone to the wrong fund for the last 12 months.  All monies have been returned and we are self reporting to the ATO. 

How do I fix this in MYOB so that when we 'pay superannuation' , the full amount of 12 months contributions are sent to the fund.  The fund says it must go through the clearing house and I cannot just send them the funds.

Thanks for any help

Klo

[Neil_M · Accepted solution]

Hi @klo 

I’d recommend having a look at our help article, Reversing and reprocessing superannuation payments. This article walks through all of the steps required to handle contributions being returned and what needs to happen so they can be resent to the fund.

To ensure the funds go through to the correct fund, the employee would need to have the correct fund before their contributions were repaid through Pay Superannuation. Do note that as the repayments are going through the Pay Super system they will contribute to your monthly or quarterly limit and may cause you to exceed your limit.

[klo]

Thanks Neil, all sorted now.