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I have the notes on Returned Super funds. However, The PayRoll in super is correct. why would i need to reverse these. All i wish to do is re-submit the returned funds back on the Super Portal, so the funds can go to employees correct super account. I suspect Super details were incorrect.
I have now update the employees super details in myob. I just want to resend the money.
On the bank side, when the funds hit our account, i created a Journal to DR bank, and CR Super Liability account.
any suggestions ??
Thanks for your question.
When you receive a returned superannuation contribution, the process to resubmit the contributions does vary slightly depending on the version of AccountRight you are using. The superannuation contribution transaction needs to be reversed, to recreate the individual contributions to resubmit them.
Reversing the superannuation contribution transaction, and not the payroll transactions themselves will put the full amount of the contribution back into your bank account. The contributions that were processed successfully can then either be done through the Pay Liabilities window in either version, or if you are using AccountRight v19 then the successful contributions can also be processed by ticking the transactions through the Save Super Contributions file and the saved file is simply deleted and not uploaded to the MYOB Super Portal.
This reprocessing of the successful contributions when offset against the reversal bank entry will leave you with the net result of the returned contribution amount coming back into your bank account. This will match your bank statement and when you reprocess the returned superannuation contributions, that amount will come out of your bank account and as a result will also match up to your bank reconciliation.
Do let us know how you get on with this,
Hi Neil, thank you;. OK i see. I will try to reverse the Super trans ( how , not sure yet). So the lot needs to be reversed, not just the returned employees.
Then , you say to process the successful contibutions only, and the variance will appear on bank account. So, then i need to reprocess the returned ones also, and load that file back on MYOB super portal.( am using Live2016 version).
I have never used the Pay Liabilities window. Do i rerun two files. one for the staff who i have super already. and one for the staff that we still need to be pay? ( returned funds).
Our help article, Reversing a transaction , does discuss how to reverse a transaction. In this case, you would need to locate the superannuation payment transaction and reverse that.
In regards to the overall process, the help article Reversing and reprocessing superannuation payments does step through the process from start to finish. For the staff that have already had their superannuation contributions submitted successfully their contributions are processed through the Pay Liabilities Window. For staff who have had their contribution returned, those contributions need to be reprocessed through the Pay Superannuation window.
Thanks Neil, I tryed to look up in help, the notes for V19, as links you sent me above, I dont seem to see Manage Payments , under the Payroll Command centre in V19. ?
Are you able to clarify which version you are using, as in your previous post you mention that you are using AccountRight Live 2016, which is different to AccountRight v19.
In AccountRight v19, you would need to locate and reverse the superannuation transaction through either the Find Transactions or Transaction Journal windows. Once reversed then as mentioned in my previous post, if you are using AccountRight v19 then you will need to run two files. One will be the successful contributions that gets deleted and not uploaded to the MYOB Super Portal, and the other will contain the resubmitted contributions that gets reuploaded to the MYOB Super Portal