Superstream/Payroll/Bank

[redroses]

Hi everyone,

The bookeeper that did all the payroll/super etc has left.

So I am trying to sort it all out

All the group certificates have been done and a new payroll year started.

I have not updated our Accountright premier as yet as I am unsure about the Superstream

Question: How do I go about updating for 2015/2016 financial year payroll.

Question: If the Directors super at this time goes into a private account do they need to be added to Superstream

Question: I don't want to update to live but want to keep as is, can that be done

Question: The Director had the Bank move money from different accounts and in doing this they made a mistake

They Debited the business account by $45,000 which was wrong, now this was done on 30th June.

As I need to reconcile the account to end June how would I enter the $45,000 debit.

The money has now been put back but as the Debit was done in June and the Credit was done in July

I need to do the June reconiliation which has the debit.

Many thanks

Anne

[Steven_M · Accepted solution]

Hi @redroses

I am sorry to see that no one has gotten back to you in regards to your post.

1. I would recommend taking a look at Help Article: Closing a payroll year in regards to completing the end of the payroll end and making sure you are all set to go with the current payroll year.

2. My understanding is that SuperStream was introduced as a way in which to improving the efficiency and a more open way in which employers dealt with Super payments. This does mean that all employer making super contributions do need to use SuperStream. I would recommend speaking to the ATO or a SuperStream expert in regards to whether or not you do need to comply with the new standards set out for your employees.

3. MYOB have released two versions AccountRight Premier version 19.11 and AccountRight 2015.3 for compliance updates. So clients that are wishing to use AccountRight Premier v19 can continue to do so and those on AccountRight 2015 can get the compliance release. If you are using AccountRight 2015.3 the company file be local or in the cloud, both will take advantages of compliance release and Pay Superannuation. Of course you do need to have an Internet connection if you would like to use Pay Superannuation locally.

4. In terms of reconciliation you do need to make sure that your accounts match that of the bank records otherwise it will not balance. So if your bank is showing that you have made a deposit (debit of the bank account) of 45000 then you would need to reflect in AccountRight that. In order to do so you would be looking at doing a Banking>>Receive Money transaction into that particular bank account.

When it does come to the withdrawal (credit of the bank account) you would reverse that transaction. This can be done via Setup>>Preferences>>Security tab and ticking"Transactions can't be changed they must be reversed". Once ticked you would open the desired transaction and select Edit (top of the screen)>>Reverse Transaction. You can then change the dates on the reversal to be in the required period if desired.