SUPERE PAID DIRECTLEY FROM ACCOUNT THROUGH BANK FEED AND NOT THE 'PAY SUPER LIABILITY' TAB.

[Mandy-15-nfp]

I have paid superannuation payment directly from my bank feed through to the ‘payroll liabilities’ account instead of using the pay liability window. It is dated back to almost the beginning of the financial year and I have had around 40 reconciliations to this bank account since. How do I fix this without affecting the reconciliations?

Spoiler

[Steven_M · Accepted solution]

Hi @Mandy-15-nfp

The easiest way to correct it would be to reverse out the transaction that you have done and then process the correct transaction. By doing this it will create a deposit in the bank account and withdraw which would cancel each other out. Please note that you do need to make sure that the payment amount for the superannuation was the same on both transactions.

Firstly you would need to deal with the transaction generated off the bank feed if you go to Setup>>Preferences>>Security tab and tick "Transactions can't be changed they must be reversed". You would then find that relevant transaction ( I assume it would be a Spend Money transaction). Once you have that transaction on screen go to Edit (top of the screen)>>Reverse transaction. For reporting purposes you might need to change the date to be the date the payment was done. When you are happy select Record Reversal.

Once that transaction has been reversed you would pay off the required amount via Payroll>>Payroll Liabilities. Please make sure that you have the date on the transaction the same date as the reversal you just made.

When it comes to your next reconciliation go to Banking>>Reconcile Accounts>>Select the required account. You will see you have a deposit transaction and a withdraw transaction for that amount. You would just ticked these transactions off like normal, as they are the same amount they will cancel each other out in terms of balance.