Processed through MPowered Super an overpayment of Super

This thread is now closed to new comments.
Some of the links and information provided in this thread may no longer be available or relevant.
If you have a question please start a new post.
Doodygirl
Experienced Cover User
21 Posts
Experienced Cover User
Australia
Experienced Cover User

21Posts

8Kudos

0Solutions

Solved: Go to Solution

Processed through MPowered Super an overpayment of Super

HI

 

I have mistakenly over paid a super contribution for March for one employee and it has gone via MPowered Super payments and left the bank account.

 

I have processed a new pay for the employee and $0.00 out wages etc.. and then Debited my liability account and credited my expense account.

 

When I next run payroll should I simply process $0.00 amounts for super for the employee as the money has already gone to his super account and draw it down that way each fortnight or is there a better way to handle this.

 

Help!!

 

Cheers

 

Julie

2 REPLIES 2
Steven_M
45,180 Posts
Former Staff
New Zealand
Former Staff

45,180Posts

0Kudos

6,759Solutions

Accepted Solution Solved

Re: Processed through MPowered Super an overpayment of Super

Hi @Doodygirl 

 

You mentioned MPowered Superannuation is not a product that we no longer support with it being decommissioned in 2016 following Super Stream requirements coming into effect.

 

You are most likely using the AccountRight 2021 - Pay Superannuation feature. If an incorrect amount was accrued and paid to the employee you would look at reversing out that transaction. This will generate a negative transaction in the Pay Superannuation window. So when you next process the superannuation payment to the super funds you have a negative which can be ticked off to reduce the overall paid in that next payment.Note: you may have to extend out the dates of that Pay Superannuation window to see that negative.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| My Account

Doodygirl
Experienced Cover User
21 Posts
Experienced Cover User
Australia
Experienced Cover User

21Posts

8Kudos

0Solutions

Re: Processed through MPowered Super an overpayment of Super

HI Steven

 

Thanks for responding to my post, appreciate your feedback.  I have a negative amount in the pay super window for March and understand when paying April Super extend my dates to cover March and April to pick up that negative super amount and then apply to the current April amount and the overall payment will be reduced by the negative amount.  

 

Yes you are right, I was using old terminology of "MPowered" .....  old habbits....

 

Cheers

Julie

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post