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I have found that one of my employees did not have SG ticked in the super section of the card file. This means that super payments were not calculated and not paid. I can recover the PY 2019 super for July using a VOID payslip. But I cannot use this technique for earlier periods as I have rolled the payroll year and cannot enter pay information on the closed payroll year.
I can calculate the super using an old company file on a backup company file. But I am at a loss as to how to get the correct figures into the live file, so that I can issue employee advices, and ensure that the linked accounts balance.
Of course I can force the figures into the FY 2018 using JE but I feel that there must be a better way. I can't roll the live company file back easily as there are too many July transactions and apart from this issue, I am ready to roll the financial year.
Looking for enlightenment!
Solved! Go to Solution.
Thank you very much for posting on the MYOB Community Forum.
In the following discussion you run this past your accountant, to double check to make sure everything is in accordance with the way you run your business. However, when you say the SGC category wasn't ticked, does that mean the employee never received any super payments at all, and that you now need to pay (in real life) the super owed over 1+ years? If so, you will need to put this through as VOID paycheques in the current payroll year, as you will need to account for the money coming our of your bank account in your reconciliation.
If it's a matter of requiring simply to enter transactions in the file to represent money that has already been paid out of your physical bank account, you will need to either restore a backup in the 2018 payroll year and redo the payrolls, and then of course redo any 2019 information again. Second option is to roll back you financial year, and do a journal entry to compensate the super payable and your bank accounts. In this option it's best to have a chat to your accountant to discover which accounts and exactly how much should be debited/credited from the required accounts.
Hope that helps, and if you need any further help at all, please don't hesitate to let me know.
Thank you for the prompt reply.
I will do your option 1. But what I want to do is to set the liability into the correct quarter. I have Q2, Q3, Q4 of 2018 to set up. I can't use VOID paycheques for this as the payroll year has been rolled to 2019. Can I do this using Journal Entries? If so, how to I get the JE to register the super liability to the correct employee? I guess what I am trying to overcome the limit of the VOID process which is restricted to the current PY.
Any clarification will be welcome.
As a back stop, I can use VOID to enter the SGC owing into 2019. This will allow the correct reconciliation through the bank account, but will leave the accounts overstating profit in 2018. A single JE will fix this, but the SGC will not be attributed to the employee in the accounts.
I hope this makes sense.
You cannot do a journal entry to a specific employee. Journals are only for altering account balances and do not have any space for attaching card files. Also if you do jounal entries for Q3 2018 (jan-mar) for example, but the money doesn't come out of your bank account until August 2018 this may throw your account balances out (including balance sheet/P&L). Please run this by your accountant before doing this as to the ramifications of this.
Hope that help, and please do let me know if you need any further assistance at all.