Forum Discussion

KDRInfo's avatar
KDRInfo
Member
1 month ago
Solved

MYOB Superannuation Reversal and Payment

Hoping for some help in resolving compulsory superannuation payments.  In summary, we reversed salary payments 2 times for 4 employees due to payment calculation errors, and then successfully made th...
  • Princess_R's avatar
    Princess_R
    1 month ago

    Hi KDRInfo,

     

    I agree that putting 0 super in the pay run isn’t ideal, because it makes it look like no super was paid for that period and could confuse employees.

     

    If the extra super has already come out of the bank and been received by the funds, the only way to fix it now is by working with the super funds and making some manual adjustments in your books. So you can either talk to the super funds about getting a refund and then record those returned contributions, or go with your other idea: process a normal pay and then post a journal to offset the overpayment. That said, I’d really suggest checking in with an accountant or bookkeeper to make sure you’re handling it the best way.

     

    Cheers,

    Princess

KDRInfo's avatar
KDRInfo
Member
1 month ago

Thanks Earl.  We will adjust against subsequent super payments, meaning the employer super contributions will be 0 for 2 months.  Could you advise on how best to record this in MYOB?  We can include a 0 value in super when we record an employee payment, however their payslip would then indicate no super had been paid, which would not be correct.  Alternatively, record a normal payroll and possibly then also a separate journal transaction to move funds from the super liability account to match with the original incorrect payment?

Princess_R's avatar
Princess_R
MYOB Moderator
1 month ago

Hi KDRInfo,

 

I agree that putting 0 super in the pay run isn’t ideal, because it makes it look like no super was paid for that period and could confuse employees.

 

If the extra super has already come out of the bank and been received by the funds, the only way to fix it now is by working with the super funds and making some manual adjustments in your books. So you can either talk to the super funds about getting a refund and then record those returned contributions, or go with your other idea: process a normal pay and then post a journal to offset the overpayment. That said, I’d really suggest checking in with an accountant or bookkeeper to make sure you’re handling it the best way.

 

Cheers,

Princess

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