I think this might be a stupid question, but we have just done our first Pay Super through MYOB and the amount has come in the Bank Feeds. Do we apply it as a Spend Money to the ATO as normal or to another entity? Thank you.
Hi RSAperth6154,
Not a stupid question at all, this one trips a lot of people up on their first super payment.
If you’ve paid super through an outside/different clearing house, record the payment manually (Pay Liabilities in AccountRight, or a Spend money to your Superannuation Payable account in the browser) so you can match it in bank feeds; but if you’ve paid using MYOB Pay Super, the payment is already recorded for you, so in Banking > Bank transactions just match the bank feed line to the existing Pay Super transaction and don’t create a separate Spend money, otherwise you’ll double-up the expense and liability.
Regards,
Earl
Hi Earl - Thank you for the information. This is now completed.
