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Wes-Ash's avatar
Wes-Ash
User
7 months ago

Salary sacrifice payments-recorded without reference number

Hello MYOB Community,

 

The salary sacrifice payments for one staff member never gets paid along with Superannuation Payable and I had to locate the missed ones to make a lumpsum payment. Now that I have paid those liablities, I do not see a reference number for the payments (attached screenshot) and the money did not go out of the bank as well.

 

I have attached the deets on how Salary sacrifice is set up in our software and I  have recently changed the linked payable account from superannuation payable( (liability account ) to Superannuation ( expense account) to see if it makes any difference during next Super run and if salary sacrifice payments show up along with Super guarantee. Please advise what am I missing? Why is there no reference number? Why the money did not go out from our Expense account like it does with Superannuation.

 

Any help is appreciated.

 

 

1 Reply

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  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    6 months ago

    Hi Wes-Ash,

     

    Thank you for your post, and I apologize for the delayed response.

     

    Welcome to the Community forum.

     

    It's important to note that salary sacrifice payments and superannuation payables are two different types of payments. Salary sacrifice is an arrangement where the employee agrees to forego part of their future entitlement to salary or wages in return for the employer providing them with benefits of a similar value. On the other hand, Superannuation Payable is a liability account where employers hold the superannuation contributions until they are paid to the superannuation fund.

     

    As for the missing reference number, from my understanding, payroll liabilities don't have any reference numbers, but they do have the ID number. If you access your file through the desktop version, you can try running the transaction journal to check the ID number.

     

    Please let me know if you require further assistance.

     

    Cheers,

    Princess