Forum Discussion

Crystle's avatar
Crystle
Experienced Cover User
2 years ago

Balance Sheet issue once reprocessing of 'correctly paid' superannuation payments CONTINUED

Hello, I'm back to say we are still having the same issue as shown in this closed post I made 3 years ago.

 

https://community.myob.com/t5/AccountRight-Staffing-and/Balance-Sheet-issue-once-reprocessing-of-correctly-paid/m-p/665355#M54035

In addition I want to point out once and for all how we just can't seem to make the maths MATH when trying to reconcile our main account when dealing with super reprocessing - see attached picture with identifying details stripped out. Numbers are adjusted and not actual figures but reflect the exact issue we are having.

As per your Pay Super reversal FAQs on this page, it says not to worry all will balance out if only you hide the transactions. However the variance  in our main account ALWAYS = original super trx amount minus the bounced funds paid back out.

If anyone can give me insight into how to reconcile that would be amazing. 

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    2 years ago

    Hi Crystle 

     

    Thank you for your post. We appreciate your patience and understanding on this matter.

     

    We recommend reversing and reprocessing returned super payments once. In this Help article, Reversing and reprocessing superannuation payments, an individual contribution can't be reversed. You'll be reversing the whole super payments transactions which is your $2011136.23, this will be under Pay Liabilities. Once reversed, you'll be recording the successful super payments in Pay Liabilities window except for the 3 returned super payments. Once it's done, the next thing you'll be reprocessing is the unsuccessful super payments the (2280.53,698.42,5329.8) should be reprocess on the Pay super window. 

     

    Undo the reconciliation and start reconciling accounts from January to April. This will balance your reconciliation.

     

    Please feel free to post again I'm happy to assist.

     

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

     

    Cheers, 

    Princess

     

     

    • Crystle's avatar
      Crystle
      Experienced Cover User
      2 years ago

      Hi there thanks for your reply.

       

      To follow the MYOB instructions correctly, it is not possible to process the payment only once, because we received 3 separate bouncebacks on 3 separate dates - therefore we need to repeat the process once for each date. That's why it shows 3 time.

      I've already repaid the 3x unsuccessful super payments (in one batch, once) as you can see on 12 April.


      But as per the 'recording successful super payments in pay liabilities winder without the 3 returned payments' obviously those amounts will not total the original batch.

      The entire amount is out by the sum total of the 3x repaid unsuccesful super payments. The math ain't mathin'!!

      • Princess_R's avatar
        Princess_R
        MYOB Moderator
        2 years ago

        Hi Crystle 

         

        Thank you for the reply. So that I can take a look into this, could you please send me a Private message with your serial number, ABN number and business name.

         

        Cheers,

        Princess

         

         

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