Forum Discussion

joebit1's avatar
joebit1
6 years ago

super liability on Balance Sheet

I have just started using the pay super facility in MYOB. Why does the liabilty still appear on the balance sheet after the payment has been made?? In the past i just made the payment from my bank a...
  • GDay53's avatar
    GDay53
    6 years ago

    joebit1 

     

    Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

     

    Open up the Find Transaction window for your Superannuation payable Liability account, and you should be able to see the allocation of the super and the payment of the super.

    Also remember that even after you have paid the super, there could still be amounts in the super account that are for pays of a newer date than those paid. For example if you have paid September Super and are looking at the account now in November there should also be all the super amounts allocated in October nad early November in the account.

    super 

     

    If you can't see the payments showing then something in the Pay Superannuation setup must be wrong.

    Start by checking the linked accounts are all correct.

     

GDay53's avatar
GDay53
Ultimate Cover User
6 years ago

joebit1 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

Open up the Find Transaction window for your Superannuation payable Liability account, and you should be able to see the allocation of the super and the payment of the super.

Also remember that even after you have paid the super, there could still be amounts in the super account that are for pays of a newer date than those paid. For example if you have paid September Super and are looking at the account now in November there should also be all the super amounts allocated in October nad early November in the account.

super 

 

If you can't see the payments showing then something in the Pay Superannuation setup must be wrong.

Start by checking the linked accounts are all correct.

 

  • joebit1's avatar
    joebit1
    6 years ago

    Thanks for the expaination and yes i found the payment in the liabilities account. I wasn't looking at the date the payment was made. I used to previously back date the payment in my books so the balance showed nil after each months super payment

     

    regards

    Joe

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.