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OnBalance's avatar
OnBalance
Experienced Cover User
3 months ago
Solved

SuperChoice P/L transaction processing problem

MYOB Business Pro file does not match Super Choice to Bank Transaction in bank feed, MYOB account 2-1355 Superannuation Payable shows both the credit and debit processed when the payroll was processed leaving the ending balance $0.00 as one would expect. Therefore, the transaction in the bank feed cannot be debited to account 2-1355 as it will affect the balance sheet. How is this rectified please?

Many thanks

  • kevinmargetson's avatar
    kevinmargetson
    7 days ago

    Hi, I started using MYOB Pay Super in the April quarter to check its functionality. 

    Now that I checking my super payable liability account for EOFY, I have found that I have a similar problem.  Because the bank is not matching to the Super Choice and is being allocated to the super payable liability account, the payment has been recorded twice - once by SuperChoice and once by the bank allocation :(

    Not sure how I fix this !

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  • kevinmargetson's avatar
    kevinmargetson
    Experienced User
    7 days ago

    Hi, I started using MYOB Pay Super in the April quarter to check its functionality. 

    Now that I checking my super payable liability account for EOFY, I have found that I have a similar problem.  Because the bank is not matching to the Super Choice and is being allocated to the super payable liability account, the payment has been recorded twice - once by SuperChoice and once by the bank allocation :(

    Not sure how I fix this !

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    7 days ago

    Hi kevinmargetson,

     

    Thanks for explaining what’s happened. This usually occurs when the bank feed for the SuperChoice payment has been allocated manually to Superannuation Payable instead of being matched to the existing Pay Super transaction. To sort it out, you’ll want to remove the extra manual allocation or duplicate entry first, then match the bank transaction to the original Pay Super transaction instead. If the balances still don’t look right after that, it’s also worth checking that your superannuation categories are linked to the correct liability and expense accounts. If you’d like a hand working through it, please reach out to our team and they can help you go through the entries step by step.

     

    Cheers,

    Princess

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