Replacing Super Linked account implication

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Contributing User Gracy
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Replacing Super Linked account implication

I have a question about the implication of replacing Super linked account. My supervisor wants the linked account for Salary Sacrifice is changed to different GL account.

 

My question is, how MYOB treats this changing?  In the current salary sacrifice account, there is still 1 month super that our company owe.  If I change the GL account for the next payroll run, (hence, the salary sacrifice will be using new GL account), what happened with the 1 month super  from previous period when we make the payment of it?  Will MYOB be debiting the old OR new Super account?

 

Thank you. 

 

 

 

 

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MYOB Moderator Neil_M
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Neil_M
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Re: Replacing Super Linked account implication

HI @Gracy 

 

When you pay a superannuation contribution, either through the Pay Super or Pay Liabilities window, the accounts currently selected for that superannuation category will be impacted. So if a pay was recorded with one set of accounts selected, then these accounts were changed this would mean that the newly selected accounts would be used when the pay super transaction was recorded not when the payroll transaction itself was recorded.

 

As this will cause an imbalance you would need to use a journal entry or similar to correct the balances of the accounts. I recommend speaking with your accountant over how this journal entry should look

Regards,
Neil

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Contributing User Gracy
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Gracy
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Re: Replacing Super Linked account implication

Thank you Neil. That answers the query.  

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