PAYG and Super Owing

joeseb87

Can anyone explain how to setup account right to separate superannuation payable and

PAYG withholding.  Seems they are both linked to the same account 2-2000 and are not separated.

 

Secondly by changing the accounts will it separate what is already recorded? 

 

 

 

 

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Princess_R

Hi @joeseb87,

 

Thanks for sharing the screenshot! Yes, PAYG withholding payable and superannuation payable can definitely be split by linking them to different liability accounts. If they’re both currently going to account 2-2000, you’ll just need to update the linked accounts so each payroll category points to the right one. Changing those accounts will usually only affect new transactions going forward, it won’t automatically separate anything that’s already been recorded to the old account. For the existing balance, you’d likely need to do a journal entry and make sure to check with your accountant/bookkeeper on the best way to move it across correctly.

 

Cheers,

Princess