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3 weeks ago
One of our employees' Super Funds changed their USI number recently, but I was not made aware of it, until it was too late.
I made the contributions for all staff members in June and July, but somewhere between the June payment and the July payment, this one particular staff member's payment has been returned into our bank account because the wrong USI was used for their Super Fund.
I need to somehow enter a return for their contribution for that month, and then re-submit that staff member's contribution again.
It's not simply a matter of just re-entering it again for that month (not that you can anyway), but if you could, it would show that month's contribution being paid twice, which I don't want.
Any help will be of great assistance, and I thank you in advance for your replies.
Solved! Go to Solution.
2 weeks ago
Thanks for your question
Within AccountEdge to be able to resubmit the superannuation contribution, you will need to reverse the superannuation contribution transaction that was recorded when you saved the superannuation contribution file.
When this transaction is reversed it will record a reversal which offsets the full amount of the payment. This additionally will make all of the contributions included in that contribution available to be paid through an additional contribution file uploaded to the MYOB Super Portal.
As some of these contributions will have been made successfully and don’t need to be resubmitted, these contributions can be marked as paid inside your company file through the Pay Liabilities function of your program. All of the paid contributions can be marked as paid through this function and as a result these contributions won’t reappear within the Save Super Contribution File window.
For those contributions that need to be resubmitted then they can be done so.
Do let us know how you get on with this
2 weeks ago
That sounds like it's going to be a task to amend. What happens if I have already reconciled for that month? Isn't that going to throw everything out of whack if I reverse that super payment?
It all sounds pretty confusing. Is there any way you can give me layman's step-by-step instructions on the best way to amend this?
2 weeks ago
When you record a reversal of a transaction it is recording an additional transaction, as opposed to editing or deleting the transaction which will upset your completed reconciliation. The reversal will act as money coming into your bank account and the reprocessing of the successful contributions will offset a portion of this. The difference between the two should be the same as the amount returned.
In terms of more detailed steps we don’t currently have a set of step by step instructions on what you need to do, but the basics can be summarised as
When it comes to the bank reconciliation, the payment that you receive from the superannuation fund will not match to a single transaction within the bank reconciliation window. Instead you will need to tick the reversal transaction and the successful contribution transactions, the two transactions should net off to be the same amount as the returned contribution