Forum Discussion

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 t...
  • Tracey_H's avatar
    Tracey_H
    3 years ago

    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.

Tracey_H's avatar
Tracey_H
Former Staff
3 years ago

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
    3 years ago

    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
      3 years ago

      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.

      • Atom12's avatar
        Atom12
        Experienced User
        3 years ago

        Hi Tracy,

         

        I understand Super is calculated on monthly basis, which means when I make superannuation adjustment entries I need to record on the last day of each month, isn't it?

         

        In this case, I need to make 7 adjustments ( jul-feb22) using ''Process Payroll'' function. When I process these 7 adjustments do I need to report ATO (connecting reporting centre) or skip the process. Because when I do next normal payrun it'll automatically adjusted YTD amount anyway.

         

        We use single touch payroll system. But we don't pay super using "Pay superannuation" function. He uses House clearing.

         

        Kind regards,

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