Superannuation

Hi Businesspro,

Thanks for your post, and welcome to the Community Forum. Processing zero pay for the superannuation payment for the next month to rectify the overpayment made for this month isn't possible, as the superannuation payment is calculated depending on what the employee earned for the pay period. I recommend that you process a separate payment with only the super amount in it. Since you will deduct the overpayment amount, make sure to enter negative figures equivalent to the overpayment. This article will give you the steps to making a negative superannuation payment.

Please note that if the overpayment is not refunded, process a Pay Liabilities transaction for the offset. This will record a withdrawal transaction, and you'll still have the reversal transaction as a deposit. Manually reconcile these two transactions in the Reconcile Accounts window because they clear each other out. The only transaction you'll need to record is a payment liability if the amount is not refunded. Otherwise, it's all just matching transactions.

Feel free to reply if you need further help. I also recommend getting in touch through our online help center, MOCA, whenever you need immediate assistance with this.

Otherwise, if my response has answered your question, please click on "Accept as Solution" to help other users find this information.

Kind regards,

Shella

Hi Shella 

Thank you for your help. As there is one overpayment of super. I'm assuming I need to ask Hesta Super to refund the amount?

This would be because I cannot put through a pay run with a zero amount for super?

The extra super payment still needs to be refunded, correct?

Hi Businesspro, 

Thank you for your response. You're right. For an overpayment refund, you will need to get in touch with the superfund. Once this is done, you can proceed with the super payment along with the pay run during the next pay period as usual.

Feel free to create a new thread if you require any other assistance.

Thanks,
Genreve

Hi Genreve

I will contact the Super Fund to return the overpayment. However I already Reversed the incorrect pay run to cancel it out in Myob. Is this okay? Even though I haven't received the refund as yet. 

When I reversed the extra pay run it automatically was a negative superannuation figure as well as all items, base hours, leave and sick accrual. I assume this is enough as it was sent through STP and "accepted". That means all I need to do is allocate the refund in the Bank Feeds when it appears. Is this correct?

Hi Businesspro,

Thank you for the update. Since you have reversed the whole pay run, as the ATO accepted this, it will not be recorded to the ATO. What you'll need to do next is reprocess the pay run with the correct superannuation payment amount. This will correct the figures in the ATO containing the correct pay super amount for the pay period.

Once you receive the refund for the overpayment, you may record it as received money to allocate the refund correctly.

Feel free to reply if you need further help. I also recommend getting in touch through our online help center, MOCA, whenever you need immediate assistance.

Otherwise, if my response has answered your inquiry, please click "Accept as Solution" to help other users find this information. 

Kind regards,

Shella

Hi Shella,

The pay run was put through twice. So the ATO have the correct pay run which was intially entered with the correct super amount, which the STP shows it has been "accepted". The extra pay run that was entered which shouldn't have been put through, has also be "accepted" as well as the Reversal I made for that extra pay run, which has also been "accepted" through STP. If I reprocess another pay run it will be another extra double up again. Does that make sense? Or maybe I'm not understanding you?.... MOCA asked me to email Payroll directly and Payroll weren't any help at all!

Hi Businesspro,

Thanks for the response. My apologies for the confusion. If the duplicate pay run and its reversal have both been accepted by the ATO, it should have effectively negated the impact of the duplicate pay run. This is because the reversal would have sent negative values of the duplicate pay run to the ATO, canceling out the extra pay run. To make sure that all payroll figures are correct, I recommend running the payroll register, payroll activity, and the YTD report to check that the figures are all accurate. If this report matches the figures, then it simply means that we've done the payroll correctly, and what we will need to do is wait for the overpayment to be refunded and allocate it correctly.

Feel free to start a new post if you need further help. On the other hand, I highly recommend getting in touch through our online help center, MOCA, whenever you need immediate assistance.

Otherwise, if my response has answered your inquiry, please click "Accept as Solution" to help other users find this information. 

Kind regards,

Shella

Hi Shella,

Because I reversed the extra pay run which has cancelled out the extra leave etc and super. I can see the automatic entry now created in "Create super payment" screen, which is the entry with the negative super figure. I have tried to record it but it will not go through as the prompt I'm now getting is "You can't pay a negative super amount for an employee". How can your rectify this reversal now? Instead of requesting a refund from the super fund couldn't I just select this negative super entry with the next pay run? So it cancels out the next super payment as we have paid the extra super. This would mean I wouldn't need to ask for a refund from the super fund...

Hi Businesspro. 

Thanks for the response.

If you've processed a pay run and the superannuation payment amount is incorrect, or you've overpaid and underpaid the super payments you can rectify this by adjusting the super payments. You can find more details about this in our 'Checking and Adjusting Superannuation' article.

On the other hand, if you've accidentally processed the same pay run twice, resulting in a doubled superannuation, you'll need to reverse the duplicate pay run. You can find more information regarding this in the 'Fixing a Pay' article.

Regarding your earlier question about allocating the refund to the Bank Feeds when it appears ("That means all I need to do is allocate the refund in the Bank Feeds when it appears. Is this correct?"), you're right.

Feel free to reach out if you need any more clarification. We're here to assist you.

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

Thanks,
Genreve

Yes. I've accidentally processed the same pay run twice, resulting in a doubled superannuation. 

Because I reversed the extra pay run which has cancelled out the extra leave etc and super. I can see the automatic entry now created in "Create super payment" screen, which is the entry with the negative super figure. I have tried to record it but it will not go through as the prompt I'm now getting is "You can't pay a negative super amount for an employee". How can your rectify this reversal now? Instead of requesting a refund from the super fund couldn't I just select this negative super entry with the next pay run? So it cancels out the next super payment as we have paid the extra super. This would mean I wouldn't need to ask for a refund from the super fund...