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Reversing and reprocessing a returned super payment

Basketball
Experienced Cover User
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Experienced Cover User
Australia
Experienced Cover User

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Reversing and reprocessing a returned super payment

Hi there, 

We have received an email from MYOB Pay Super, as follows:

"Unfortunately, due to the super fund YYYYYYY closing on the 30/09/2021, your recent superannuation batch payment with the amount of $.X.XX has failed.

Your payment will need to be reprocessed once your employee card files have been updated."

 

We have done the following so far:

We have updated the S/Fund details and SPIN for the 3 employees this involved

- We have seen the deposit of the full amount of $X.XX (the whole batch, for all employees, not just the 3 with error) come back into our bank account. This deposit amount has been posted to a transaction clearing account for now)

 

I read the help note and I am comfy with reversing the entire payment as described, but just need some clarification on reprocessing the super payment please as the help note splits the treatment depending on whether amounts need to be reprocessed or not - I believe the whole amount needs to be reprocessed as the total batch came back to our bank account

 

Am I reading this correctly please?

Thanks in advance

2 REPLIES 2
IanChait
Ultimate Partner
1,323 Posts
Ultimate Partner
Australia
Ultimate Partner

1,323Posts

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Accepted Solution Solved

Re: Reversing and reprocessing a returned super payment

Hi @Basketball 

 

You are correct, the entire batch should be available  for re-processing.

 

You would split it if only one or a few payments were returned, not the entire batch.


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

Basketball
Experienced Cover User
19 Posts
Experienced Cover User
Australia
Experienced Cover User

19Posts

3Kudos

0Solutions

Re: Reversing and reprocessing a returned super payment

Thanks Ian, your answer has been most helpful. Successful in reversing and reprocessing the batch

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