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Atom12's avatar
Atom12
Experienced User
3 years ago

Need to adjust super since July 2021

Hi there,

 

I just found out that Superguarantee rate was set up 9.75% since mid-July2021 ( somehow previous bookkeeper set up as at 9.75% instead of 10%)  and I need to make an ajustment payment to all employees.

 

What is the best way to do that? I already fixed Super rate to 10% on 1/03/2022.

 

Should I manually calculate each employee " how much they should've been received super" then process payroll - wage $0.00 amount but enter adjusting super amount ??

I use Single touch payroll.

 

Thanks in advance!

  • Hi Atom12 

     

    You can report those adjustment pays through STP. When you process the next normal pay the updated YTD amounts will be sent to the ATO.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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  • Hi Atom12 

     

    Thanks for your post.  You can process an adjust pay to fix the super accrual amounts. This help article, Check and adjust super payments, has detailed information to assist with that.

     

    You will need to record those adjustment pays for each month the incorrect amount of super was paid.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

    • Atom12's avatar
      Atom12
      Experienced User

      Hi Tracy,

       

      Thank you for your advice.

      I was hoping don't need to do monthly adjustment. We pay super quarterly.

       

      Can I make just 2 superannuation adjustment using process payroll function ( STR - this will report to ATO directly)

       

      1. July 21 ~  Dec 21- will pay now 

      2,  Jan ~  Feb 22  - this will includes when we make 3rd qtr super payment

       

      Thanks in advance!

       

       

      • Tracey_H's avatar
        Tracey_H
        Former Staff

        Hi Atom12 

         

        Super is calculated on a monthly basis so we do recommend the adjustments are processed for the relevant months. When you process the next regular payrun the updated YTD super amounts will be sent to the ATO through STP.

         

        Please let me know if you need further help.

         

        If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.