Returned Pay Liabilities superannuation payment
Hi, I have had a superannuation payment of $540.24 returned from Hesta Quicksuper on the 23/12/2024 relating to super for the month of November 24 (I pay monthly). I use the Pay Liabilities function not the Pay Super.
I followed the instructions for "Returned Superannuation Contributions" via the desktop version.
1 - I recorded the returned super via Receive Money, choosing the Superannuation Payable category ie the Superannuation Payable (liability account).
2 - Then recorded a pay for the employee to reverse the super, choosing the period it relates to 01/11/2024 to 23/12/2024 (including the money returned date).
3 - Then reprocessed the super on the 9/01/2025, choosing the period as 01/11/2024 to 23/12/2024.
But, then when I went to go and pay the December 2024 superannuation (right after I paid the reprocessed super), the employees super balance was $0.00!! And yes, they worked.
The balance sheet and GL was not out, it included the $540.24.
The Payroll Summary reports it less without the $540.24. So just to get the super paid, i manually added the $540.24 to the amount that was showing on the Payroll Summary and paid it at the bank.
Now my Bank Reconciliation is not matching.
Can you please advise where I have gone wrong?
Hi there STTARS,
The issue with the employee's super balance being $0.00 and the bank reconciliation not matching suggests there might be a discrepancy in the payroll summary or the way the super was reprocessed. Here’s what you can do to fix it:
- Check Payroll Summary: Ensure the $540.24 is correctly reflected in the payroll summary for the period 01/11/2024 to 23/12/2024.
- Verify Super Payable Account: Double-check that the returned super was correctly recorded in the Superannuation Payable account.
- Reconcile Bank Transactions: Make sure all related transactions are correctly matched in the bank reconciliation.
If the issue persists, it might be best to undo the reconciliation and reprocess the super payment to ensure everything aligns correctly. This should address the issue and guide you on the next steps to resolve the discrepancy.
Cheers,
Shella
