How to correct a Salary Sacrifice amount

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Keith_W
Experienced Cover User
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How to correct a Salary Sacrifice amount

Due to an oversight, Salary Sacrifice for one employee was set to be a POSITIVE amount rather than a NEGATIVE for several pays. This resulted in increased pay for the employee & a negative balance in the Sal Sac account. How do I correct the error without disadvantaging the employee? Do I correct it incrementally by increasing the Sal Sac amount in each future pay until it cancels the underpayment? Can it be corrected by running a single 'zero' pay with the corrected amount amount in the Sal Sac category? 

 

Appreciate your help.....

5 REPLIES 5
Emily_B
Former Staff
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Re: How to correct a Salary Sacrifice amount

Hello @Keith_W 

 

Generally speaking, if there are only a couple incorrect pays, it is best to delete and re-enter these. However if there are multiple incorrect transactions, it may be easier to make correcting entries as you have indicated. The best way to do this is a combination of what you have proposed: incremental $0 pays. In other words, you will need to enter a $0.00 pay for the employee against each month in which the wrong amount of super was paid. Please see this Help Article: Checking and adjusting superannuation, for full instructions on this process.

Kind regards,
Emily

MYOB Community Support

Keith_W
Experienced Cover User
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Australia
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Re: How to correct a Salary Sacrifice amount

Hi Emily - thanks for your advice.

The instructions, however, are for the Super Guarantee, & my problem is with Salary Sacrificed amounts which impact PAYGW. 

 

Can you confirm that the instructions are the same for both?

 

Thanks

Emily_B
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Accepted Solution Solved

Re: How to correct a Salary Sacrifice amount

Hello @Keith_W 

 

Apologies for overlooking that; additional attention would need to be paid to the PAYG amounts in reconciling this for Salary Sacrifice. I would suggest refering to this former post on the forum from another user with the same scenario, who received a detailed suggestion as to how to handle that scenario. 

Kind regards,
Emily

MYOB Community Support

Keith_W
Experienced Cover User
27 Posts
Experienced Cover User
Australia
Experienced Cover User

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Re: How to correct a Salary Sacrifice amount

Thanks Emily - I have reviewed the links supplied & they have reassured me that by adjusting future pays I will be able to reverse the negative Sal Sac balance.

 

Thanks again for your response

 

Keith

Emily_B
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Re: How to correct a Salary Sacrifice amount

Hi @Keith_W 

 

That's great, glad to hear it. If this post has helped answer your query, please do click 'Accept as Solution' so that others can find this information more quickly in the future.

Kind regards,
Emily

MYOB Community Support

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