Forum Discussion

SDC1's avatar
SDC1
Contributing User
10 months ago
Solved

Super Payment Reversal

When processing super payments I have gotten mixed up and :

 

1. Processed a super payment

2. Reversed the transaction

3. Re-processed the super payment

4. Deletd the transaction 

 

In the proces the payment has gone through to the super fund and been debited from our bank account, but the superannuation amounts still show as unpaid in the "pay superanuation" window and there is no super payment transaction to link against the payment in bank feeds. 

  • Hi SDC1

     

    Thanks for your response. 

     

    In my understanding, these transactions did not affect any bank ledger accounts in the screenshot. We need to process the super transaction inside the pay liabilities window and choose the bank account it should be debited. Here is the article Paying payroll liabilities, this will show you the steps to follow. 

     

    Let us know if you need any further help. 

     

    Cheers, 
    Genreve

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  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator

    Hi SDC1,

    Thank you so much for your post and welcome to the Community Forum! I'm sorry to hear about the issue you're having. I really appreciate your patience and understanding about this issue, and I do apologize for the delayed response.

    Thanks for the detailed information. When you've encountered a situation where you've processed, reversed, and re-processed a super payment, but the superannuation amounts still show as unpaid and there's no transaction to link against in bank feeds, you'll need to investigate and rectify the issue. Here's a step-by-step approach to address this:

     

    Check Super Fund Transactions:

    • First, verify the superannuation transactions in your accounting software to ensure that they were processed correctly. Review the dates, amounts, and details associated with each transaction.

    Reconciliation:

    • Reconcile your bank statement to ensure that the payment has indeed been debited from your bank account. This confirms that the payment has left your account and should eventually reach the super fund.

    Review Reversed and Deleted Transactions:

    • Carefully review the transactions that were reversed and deleted. Ensure that the reversals and deletions were correctly executed and did not inadvertently affect other entries or accounts.

    Re-enter the Super Payment:

    • If you are certain that the previous entries were incorrect, re-enter the super payment with the accurate details. Ensure that you use the correct date, payee (the super fund), and amount.

    Check Bank Feeds and Bank Reconciliation:

    • Monitor your bank feeds and ensure that the super payment transaction appears correctly. It may take some time for the transaction to be reflected in your bank feeds, especially if there is a delay in processing by the super fund.

    Match Transaction in Bank Feeds:

    • Once the super payment transaction appears in your bank feeds, match it with the corresponding entry in your accounting software. Many accounting software systems have a feature that allows you to reconcile or match bank transactions with existing records.

    Reconcile the Superannuation Account:

    • After matching the bank transaction, reconcile your superannuation account in your accounting software. This should reflect that the super payment has been successfully processed and reconciled.

    Review Future Payments:

    • To prevent similar issues in the future, double-check your super payment entries before processing them. Ensure accuracy in the details and dates to avoid unnecessary reversals and deletions.

    Please do let me know how you go on this.
    Regards,
    Earl

    • SDC1's avatar
      SDC1
      Contributing User

      Thanks for the response Earl.  If I Re-enter the super payment again it will exeacerbate the problem as i will then  have mad ethe same payment to the super fund twice.  What I need to be able to do is make a paper transaction in MYOB to match the payment that has already been made to the super fund.

    • Genreve_S's avatar
      Genreve_S
      MYOB Moderator

      Hi SDC1

       

      Thanks for the response. 

       

      The bank feed reflects how the transactions happened in real life. My understanding is that you already paid the superannuation once, this would show in the bank feeds as one line item. On the other hand, inside the application, you have three transactions, namely two superannuation and one reversal. You will need to match only one of those transactions to your bank feeds (since you only have one bank feed relating to that superannuation payment). 

       

      Here is what I recommend doing. 

      1. Check inside the Banking > Find transactions > Debits and credits > find all three transactions for superannuation. (If you are missing any of the transactions you need to recreate them as Earl_HD mentioned)
      2. If all are seen in the find transaction window. Go to Banking > Reconcile accounts > Choose bank account > Make sure all three transactions are not reconciled or marked checked. 
      3. After step 2, you can go to the Banking > Bank transactions window and match the bank feed to the correct transaction. Then you would be able to reconcile the accounts. 

       

      Let us know if your issue persists after following these. We'll look for an alternative workaround. 

       

      Cheers, 

      Genreve

      • SDC1's avatar
        SDC1
        Contributing User

        Thanks Genreve

         

        It appears as though the issue could be that I have reversed the same transaction twice - see attached screenshot showing reversal of PS000046 twice.

         

        Regards - Simon