Construction Industry LSL accruals vs Super

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KiwiCaro
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Construction Industry LSL accruals vs Super

Afternoon, my accountant just asked me to check my super accruals, and this has reminded me I had this problem last year and forgot to check whether it can be fixed!!

'Your Payroll report from 1/7/2019 – 30/04/2020 Shows Superannuation expense as $36,617.24 but your Superannuation Expense Account 6-4300 shows $34,755.76 can you please investigate the discrepancy and reconcile the two.'

 

I have found that the Expenses column of the Payroll Activity (Summary) Report includes both Superannuation and CILSL figures, so actually my figures are Superannuation $34755.76 and CILSL $1861.48 = $36617.24 total.

 

In the payroll category, CILSL is listed under EXPENSE tab not SUPERANNUATION.

The linked accounts are 6-4350 CILSL Levy and 2-1460 CILSL Levy payable.

The only similarity I can see is that super and CILSL are both coded to payroll expenses, so is PAYG tax, and yet it doesn’t add that in?

 

I would like to know how to differentiate these two figures when running the Payroll Activity (Summary) report.

 

They are certainly separated in the Payroll Activity (Detail) report, but that report does not run a tally at the end, on tallying individual employees.

 

Hope this makes sense!

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Tracey_H
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Re: Construction Industry LSL accruals vs Super

Hi @KiwiCaro 

 

Thanks for your post. The Payroll Activity summary report displays the total wages, deductions, taxes and employer expenses for each employee. The data for these reports is filtered by the payroll categories. Employer expenses are payroll categories in Payroll Categories>>Expenses tab and in the Superannuation tab with Type (expense). Taxes are payroll categories in the Taxes tab.

 

As the summary report is only a total of those categories it's not possible to separate different employer expenses. You would need to use the detail report for a breakup of the different payroll categories.

 

Hope this clarifies it for you. Please do let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Tracey
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KiwiCaro
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Re: Construction Industry LSL accruals vs Super

Thanks @Tracey_H  yes that's helped. 

Doesn't solve my problem, but I know how to work the two expenses out so shouldn't be lazy Smiley Wink

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