Reconciling Payroll with Superannuation

Jojo08

Hi there,

I am wanting to reconcile the Payoll reports with the STP finalisation report.

When I look at the Payroll activity summary, payroll register and STP. They all balance back with the P & L and balance sheet.

I am concerned that there hasnt been enough superannuation paid for some employees when looking at the Payroll summary report for Wages against the expense column.

When I review the Wage column in the Payroll summary report and then calculate the 12% superannuation guarantee against this; it is showing that not enough super has been paid. The wage column in this report would include overtime and leave loading which there is no super payable on these categories.

I was thinking of putting the pay runs into a spreadsheet to see where the issue is.

Hoping you can advise of another report in MYOB ?

thank you

 

Joanne

Princess_R

Hi @Jojo08,

 

Sorry for the late reply. What you’re seeing doesn’t always mean super has been underpaid.

 

If your Payroll activity summary, Payroll register, STP figures, P&L and balance sheet are all balancing, that’s actually a really good sign that the payroll side of things is lining up properly. The tricky bit is that if you calculate super off total wages, including non-base pay, it can make the super liability look bigger than it really is. Super is usually calculated on ordinary time earnings or base salary, so items like overtime and some other categories can throw the numbers off if they’re included in the comparison.

 

To get a clearer picture, it’s best to check your payroll category setup, especially any super exemptions, and then work out the super that should be payable from there. You can also have a look at your superannuation payment reports, as that can help narrow down whether it’s a reporting difference or something that needs a closer look.

 

Cheers,

Princess