STP and incorrect wages expense Account

Question

Hi All,

We have had a previous bookkeeper incorrectly setup a few of our staff members with the incorrect wages expense account.

Instead of using the Wages and Salaries account, it's been allocated to Superannuation....

I have checked through the processed STP reports online, and it looks to be allocated correctly, as well as checking the Superannuation that has been paid, which is also the correct amount.

Could i just enter the amendments via a general journal to balance our books or do i have to re-process the incorrect payrolls? There is quite a few weeks payrolls that need to be amended.

Any help here would be appreciated.

Thank you.

Tracey_H · Accepted Answer

Hi @loz82

Thanks for your post. Selecting an incorrect expense account only affects financial reporting, like the Profit & Loss, so yes you can record a journal to move the amount to the correct expense account.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.