Pay Super entering a transaction in superannuation payable account
I only have 2 employees. Both get SGC as well as super sacrifice. The payroll transaction puts the SGC amounts into Super Payable liability account and salary sacrifice amounts into Payroll Deductions liability account. Prior to using the pay super from MYOB function I would make the payment manually to the Small Business Clearing House from my bank account then at month end go to the payment transaction (from the bank feed) and allocate the correct amounts to Super Payable and Payroll Deductions. This returned the Super Payable and Payroll Deductions liability accounts to zero.
Since paying super from MYOB I now have a transaction appearing in each of the accounts that MYOB is automatically entering - it is debiting the Super Payable and Payroll Deductions accounts with the correct amounts. However, I still have my bank transaction to process/allocate. When I allocate as before it also debits those accounts, means the amounts are being double counted.
How do I fix this?
Hi Steven_C,
Thanks for explaining this. The good news is that the Pay Super payment and the bank feed withdrawal are the same payment, so the bank transaction needs to be matched rather than allocated again. Otherwise, the liability accounts get a little double tap. Try this instead:
- Go to Banking > Bank transactions and find the Pay Super withdrawal.
- If it has already been allocated, choose Unallocate or Unmatch first.
- Select Match transaction and choose the existing Pay Super transaction, usually shown with a PS reference.
- Check that the amount, date and Pay from bank account match the bank-feed transaction, then save.
Once matched, the bank withdrawal should clear against the Pay Super transaction without debiting Super Payable and Payroll Deductions a second time. You shouldn’t need to reverse or delete the completed Pay Super payment. For more detail, see Matching bank transactions and Troubleshooting Pay Super payments. If the Pay Super transaction isn’t available to match, or the accounts still don’t balance, you can reach out to our support team via Contact Us page so they can take a closer look.
Cheers,
Doreen
