Pay Day Super Pay - Bank Rec

Hi JaneneP,

I have also struggled with this.  It unfortunately defaults to the first account which starts with 1 (NAB in your case).  MYOB will not change the Pay from Account like it does with Spend Money.  I have requested this numerous times without any feedback or answers.  If only they actually had a decent customer service and listended to their customers this would be a great product.

Hi JaneneP,

Thanks for checking your Pay Super settings. It looks like the wrong account may have been selected when the transaction was recorded, possibly because it was the first option in the dropdown. The ‘Pay from’ account selected in a Pay Super transaction only affects how the ledger entry is recorded. The direct debit itself is always taken from the verified, nominated bank account in your Pay Super settings. To tidy things up, you can transfer the amount from the incorrect account to the correct bank account, then record a journal entry so your bank reconciliation lines up properly. It’s also a good idea to check the exact journal entry with your accountant or advisor, so it’s recorded correctly in your file.

Cheers,

Princess

Thank you Doreen

I have checked Superannuation Payment Setting and Under Paid Super, and it is set up correctly - as this is where the funds are being deducted from. BUT, when I go to reconcile this payment is stating it is coming from the BUSINESS account.  There must be somewhere else it is pulling from recording the transaction. To clarify - the only thing that comes from the "tax" account is GST and Super Payment.  Payroll week payments to the staff for their wages comes from the Business Account.

This is where I checked.

Hi JaneneP,

I can see why this would be confusing when the payment is leaving the Tax Account but the transaction says Pay from account: NAB Business. For future payments, update the Pay from account in Pay Super Settings to the Tax Account so the Pay Super transaction is posted to the account you use for reconciliation. Also check that the nominated and verified Pay Super bank account is the account you intend to use for the direct debit, as that controls where the funds are withdrawn from.

For the payment that’s already been recorded, changing the setting won’t move the existing transaction. If it was posted to NAB Business while the bank-feed debit appears in the Tax Account, you may need to use general journal to reclassify the transaction to the Tax Account, then match the bank-feed transaction to the Pay Super payment. Don’t create or process the super payment again, as the funds have already been withdrawn.

These AccountRight guides may help:

• Make superannuation payments
• Managing linked accounts

If you’re unsure which transfer or journal is appropriate for the current transaction, it’s best to check with your accountant or contact our support team via the Contact Us page before making the adjustment, so the reconciliation stays tidy and no payment is duplicated.

Cheers,

Doreen