error in superannuation payment to quicksuper
By my own keying error, I have entered the wrong superannuation amount for one employee into Quicksuper (all payroll is correct), short paid $0.50c. So now nothing reconciles. How can i fix this er...
Forum Discussion
Hi AinsleyCMP,
Thanks for your post.
I understand your concern about the superannuation payment error and the subsequent reconciliation issue. To help you address this, you can follow these steps:
- Pay the $0.5 and allocate it to the clearing account.
- Create a journal entry to transfer the amount between the original and clearing accounts.
You can manually match the bank transactions by carefully selecting the transactions that align with the payments made. Ensure that the total amount reconciles with the total liabilities paid, including the $0.50 discrepancy. Additionally, consulting with your accountant for further guidance on creating journal entries would be advisable to ensure accuracy in your records.
Feel free to post anytime you need further assistance.
If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.
Cheers,
Princess
