Superannuation Guarantee Charge query
Hi I've had to lodge an SGC with the ATO. I have then paid SG owed + SGC by EFT from business bank account. How do I record this in MYOB? If I record a Spend Money and credit the business bank...
Forum Discussion
Hi VW0599,
To record the Superannuation Guarantee Charge (SGC) payment in MYOB and link the Superannuation Payable to what is visible as unpaid in Payroll - Pay Super, you will need to record the Spend Money transaction, update payroll and pay super manually to ensure no duplicate payments, and report through Single Touch Payroll (STP). Specifically, navigate to Banking > Spend Money, credit the business bank account, and debit the appropriate accounts (Superannuation Payable and Superannuation Charge). Then, manually mark the superannuation amounts as paid in Payroll > Pay Liabilities. Avoid selecting relevant months in Payroll - Pay Super to prevent duplicate payments. Ensure STP reporting is accurate and up-to-date. For further assistance, consider contacting the support team via the MyAccount window or live chat through MOCA.
Regards,
Genreve
Hi Genreve, further to the superb details you posted above, how do I record the superannuation payment? I'm using MYOB Business and don't have Payroll - Pay Liabililties? I understand it isn't available on web version. Thanks in advance. Vicki
Hi VW0599,
You're absolutely right, MYOB Business doesn’t have the "Pay Liabilities" feature like AccountRight does. But no worries, you can still record a superannuation payment manually using a Spend Money transaction. Spend moneyIf you're registered to pay super through MYOB, it’s even easier you can make the payment directly from within MYOB itself.
I hope this helps!
Regards,
Earl
