Change in Superannuation fund
Hi guys, I have had to update an employees superfund. That account has been closed out with the old fund. I have accrued super in MYOB to pay that employee. As this fund no longer exists I wi...
Forum Discussion
Thanks CloverQ ! I can see that all the payments due to that employee will go to the new super fund.
My issue now lies with returned monies from the closed fund.
The last payment made into the old super fund has bounced back to us - for that one employee only. I have the cash in our bank account.
BUT - the status of the payment in MYOB "Manage Payments" for the last super transaction has a status of "Processing Payment" from 24/2/2022. It has all employees super payments in that transaction. Will that be rejected? Or will I need to Reverse it and reprocess the super payment - for all employees in that transaction?
Also with the refunded monies - can I put that back into Pay Super somehow, or will I need to make a direct deposit?
Hi SusieExpTech
Thanks for the update.
Since the payment was bounced back, it does mean that the Pay Superannuation payment was not successful, the status in the Manage Payments window generally takes a few days to update, we did have some problem weeks ago where some users see payments stuck in 'Processing' status while in fact there was problem with the super details.
You do need to reverse the original super payment, correct the fund details then reprocess it. The successfully paid amounts needs to be recorded via Pay Liabilities instead, so they don't get paid via Pay Super again. The bounced amount needs to be recorded as a Pay Superannuation transaction again and resent. Please find details steps on this Help page:
