Wrong Code Used in Payroll for Super

Question

Hi Everyone,

When setting up a new superannuation expense code for the BDM I accidentially used 21420 - PAYG Withholding instead of 21430 - Superannuation Payable as its directly under each other.

So when I paid the BDM for the last two payroll's it went into 21420 instead of 21430 and now I dont know how to fix this? I have only just realised when I went to do my super and my figures dont match in my general summary.

Please help.

Genreve_S · Accepted Answer

Hi @MelanieJackson,

Thanks for reaching out and welcome to the Community Forum.

I understand the need for the liability linked account to be corrected. To correct the linked account, you can go to the Pay Category of the superannuation and correct the linked liability account there.

For the two previous payroll transactions that have been recorded incorrectly. I recommend speaking to a financial advisor, to find out what's the best way to record a transfer of the amounts from one liability account to the other.

Let us know if you require any further assistance with this. We're happy to help.

Cheers,

Genreve