Forum Discussion

LiLbUg's avatar
LiLbUg
Contributing User
3 years ago

Super Payable wrong

My super payable is not reconciling, or calculating properly.

In my general ledger report, the super payable does not match with the superannuation total; and the super payable does not reflect what can be seen when viewing bank tansactions.

Bank feed shows 9166.68 of super payments, all are coded 2-1355; one super payment was made incorrectly and is in a journal instead but the full amount of 10,000.02 is coded for 2-1355.

 

In the general ledger only some of the payments have been recognised.

I cannot see how to fix this since they are already coded correctly.

  • Hi LiLbUg 

     

    Thanks for your post. Based on your screenshots it looks like you're using the Pay Super service. If this is correct, bank feed transactions need to be matched with the Pay Super (PS) transaction. Allocating a bank feed transaction automatically records a transaction, which will cause duplicates and out-of-balance issues.

     

    A pay run transaction credits the Superannuation payable liability account. When super is paid, the Pay super transaction debits the Superannuation payable account, clearing the liability. If you allocate the bank feed transaction to the Superannuation payable account, a Spend money transaction is recorded which also debits the Superannuation liability account.

     

    You would need to unmatch the those bank transactions, delete the Spend money transactions and match the Pay super transactions to the bank feed transactions.

     

    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.

    • I cannot find the transaction 'spend money' that was created.  Can you help further with this.

      Thanks

       

      • Tracey_H's avatar
        Tracey_H
        Former Staff

        Hi Nationaltesting 

         

        Go to Banking>>Find transactions>>Debits and credits tab and select the super payable account in the Account field. Click on the reference number to open the transaction. You can also go to Banking>>Reconcile accounts and select the super payable account in the Account field.

         

        Please let me know if you need further help.

    • LiLbUg's avatar
      LiLbUg
      Contributing User

      I cannot unmatch the records, I get the error
      You cannot undo the approval because the transaction has been reconciled. Click the Refresh icon in the Match Transactions window to see the latest information.

       

      • Tracey_H's avatar
        Tracey_H
        Former Staff

        Hi LiLbUg 

         

        If the Spend money transactions have been reconciled you will need to undo the reconciliations, unmatch and delete the Spend money transactions. Then match the Pay super transactions and re-do the bank reconciliations.

         

        To undo bank reconciliations:

        • go to Banking>>Reconcile accounts
        • click on Undo

        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.