Dealing with Bounced Superann

Question

Hi there - have had Statewide bounce three staff members January Quarter payments.

Transition to Host plus - but as usual, no help from the funds in any of this - none of the staff members even knew that they are now in Host Plus.......

But - have keyed the bank remit to suspense, repaid two of the three employees by using a VOID payslip with super only. Will reverse total suspense back to Superann expense.

However - this is reporting extra Super to the ATO - correct ???

What is a better way of dealing with this please ??

tracey_h · Answer

Hi&nbsp;echokim&nbsp;
&nbsp;
Thanks for your post. The Help Article, Reversing and reprocessing superannuation payments, has detailed instructions for dealing with both returned and successfully paid super payments.
&nbsp;
Please let me know if you need further help.
&nbsp;
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

echokim · Answer

Hello Tracey - thanks for the response.&nbsp; &nbsp;I thought my method might have been taking it up twice.Reversing the entire transaction seems a bit cumbersome ???what about a void negative superann pay run&nbsp; for the said employees???&nbsp; &nbsp;seems to tick the boxes, or is it an ATO no-no ?&nbsp;Cheers

tracey_h · Answer

Hi&nbsp;echokim&nbsp;
&nbsp;
Anything processed through payroll is going to affect what is reported to the ATO so I would avoid that because in this situation the super bounced because of an issue with the super fund. The payruns and amounts reported are correct, it's only the super payment transaction that is an issue.
&nbsp;
Following the steps in the linked Help Article aren't as cumbersome as they seem and will be quicker than adjusting the pays and allocating the refund to the suspense account. You'll also have a clear audit trail to match with happened in real life.
&nbsp;
Following the steps in that Help Article you'll:

reverse the Pay super payment by clicking on Reverse payment in the Manage payments window
reprocess the successfully paid contributions in Pay Liabilities
reprocess the super contributions that bounced in Pay Super, this resubmits the payment to the employee's super funds

Please let me know if you need further help.
&nbsp;
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

bronwynhamster · Answer

Hi there,&nbsp;The alternative is to relodge directly with your superannuation clearing house. That way there is no further STP recording in MYOB.&nbsp;Cheers,Bronwyn

robyn17 · Answer

Hi Tracy,
&nbsp;
Can you please help?&nbsp; I am trying to reverse a super payment on a desktop version.
&nbsp;
When I am in manage payments and click on edit and reverse super payment nothing happens, teh next step does not appear.
The period is not locked and I have all the correct permissions.
&nbsp;
thank you

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