Super account allocation

spvw

In the past, when a super payment transaction direct debit appeared in the bank transactions, I would manually allocate that to "2-XXXX Superannuation Payable.

 

With the new super it would seem that I now need to allocate to "1-2000 Undeposited Funds Account" for things to balance.

 

Is this correct?

Tracey_H

Hi @spvw 

 

When you process the Pay super payment, a transaction is recorded that clears the liability from the Superannuation payable account and posts the payment to the bank account.

 

If the Undeposited funds account has been selected in the Bank account field instead of the bank account, you can just move that amount from the Undeposited funds account to the bank account. You can do this by recording a Transfer money transaction, the From account is the bank account and the To account is the Undeposited funds account. 

 

This will clear the amount from the Undeposited funds account and in Bank transactions you can match the Transfer money transaction to the bank feed transaction.

 

Please let us know if you need further help.