How record late super charge so pay through super portal

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How record late super charge so pay through super portal

Hi All

we use premier and super portal. 

Due to various reasons we have  to a pay late interest and fee for paying super late for multiple employees and have been advised by tax office to make payment to the various funds direct. How do I record this in payroll so I can load file and pay through super portal in myob. 

 

I would be be very grateful of any assistance

 

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Re: How record late super charge so pay through super portal

Hi

 

Welcome to the MYOB Community Forum, I hope you find it a great resource.

 

To create an additional superannuation amount that gets paid through the MYOB Super Portal, you will need to do a superannuation adjustment void pay. When preparing a void pay to adjust a monthly superannuation amount there are a couple of things to keep in mind.

 

First, this void pay needs to have a payment date in a month where all of the pays have been recorded for the month. This is because when AccountRight does a pay for a month it checks the monthly amount of superannuation so far against the amount of superannuation eligible earnings. If there has been too much superannuation earnt compared to the amount of eligible earnings, then any subsequent pays for that month can have incorrect superannuation figures.

 

Secondly a void pay would have a net pay of $0 across all relevant payroll categories, so that the employee isn’t given any wages that they haven’t earned. This will also ensure that the employees payment summary is correct.

 

In terms of a void pay it would look something like this when entering it. For this example I am increasing the amount of superannuation the employee is entitled to by $500.

 

inc super.PNG 

 

As you can see in this screenshot, I have adjusted the memo to be something more relevant. In addition, the net pay of that employee is $0.00, while there is a superannuation amount, all of which have been highlighted in Red Boxes. When I process this pay this will increase that employees superannuation to be paid through the MYOB Super Portal.

 

Please note that I have used AccountRight 2016 for this void pay, however the same would hold true for a void pay in AccountRight v19.

 

Once the adjusting pay has been recorded then you will be able to pay that additional superannuation through the MYOB Super Portal.

 

Please do let us know how you get on with this,

Regards,
Neil

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Re: How record late super charge so pay through super portal

Thank you so much for all your efforts that was exactly what I needed. 

 

Thanks again

annb

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Re: How record late super charge so pay through super portal

@annb @Neil_M

 

Ann,

 

I believe that you should be speaking to your Tax Accountant as I understand that late fee and charges on Super are not a tax deduction.

 

A separate ledger under Other Expense should be created.

 

Let us know how you go.

 

Duncan

Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days
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Re: How record late super charge so pay through super portal

Hi Neil,

Is it possible to do a similar void pay in Essentials?

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