Historically (FY22 - books closed) left out Ordinary Income category in calculating Super. How do I rectify payment (journal entries) to report to employees' superfunds and tax office so as two balances match for year end . Thanks
Hi Milt
Thanks for your post. You will need to process adjustment pays to report those super contributions to the ATO through STP and pay to the super funds. The Help Article, Checking and adjusting super, has detailed instructions for fixing super payments in AccountRight.
If STP has been finalised for that year you will need to undo the finalisation before processing the adjustment pays. Once the YTD verification report shows the correct amounts you can re-do the finalisation.
If you haven't already I'd also recommend speaking to your accountant and the ATO as this relates to a previous payroll year.
Please let me know if you need further help.
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