Superannuation payment returned due to incorrect member account number

[RoxyAtButtery]

Hello. I have been trying to follow the instructions on how to reverse a super payment made through the MYOB super clearing house as one super fund payment out of 20 or 30 fund payments bounced back but I can't get it to work. The reversal of the transaction times out. Is there a better way to deal with returned super payments? Cheers, Roxy.

[PaulBihet · Accepted solution]

I find the whole reversal process to be more of a headache than it is worth 

what I do is 

1 create a liability account for incorrect super details (easier for audit)

2 receive money to bank account transaction allocated to this new account 

3 Phone and get BPAY or bsb and account number details from Super fund for employer contribution 

(can sometimes be found on their website)

4 Pay via Internet banking and allocate via spend money to incorrect super details account 

Never had an issue with doing it this way

[RoxyAtButtery]

Hopefully it is only a short term solution. Thanks Paul.

[SalC]

Good afternoon Paul,

I have a super question and after reading your reply below you seem to know what you are talking about. I have reached out to MYOB but am having trouble getting the answers to my question. Would you mind if i emailed you asking my question? Thank you Sally

[Yanike_S]

Hi @SalC 

Welcome to the Community Forum.

I am glad @PaulBihet  was able to clarify his way of dealing with reversed super payments. If he is unable to resolve your question, feel free to post your question regarding super as a separate thread to the forum and we are happy to look into this for you.

[PaulBihet]

Hi Sally

Feel free to drop me an email if you have any further queries

[MsK-inthebooks]

Hi, 

Just had this issue also. Sending back via BPAY or direct credit is no longer an option with STP and Superstream. 

I had to reverse the whole superannuation payment for the entire payroll. Quarantine the correctly submitted super payment for the rest of the staff  and creat a bogus payment in (pay liabilities) to clear in MYOB. (## dont create another superstream payment) . then... reverse the pays  that correspond for the offending incorrect super payments. ( in my case it's one employee with a month of pays.) Resend them via the (Pay Superannuation) and you can see it capture the contra entries for both the incorrect fund and the correct fund. this will send the payment to the correct fund via superstream. 

You may need to re-reconcile your bank statements depending on the timing of the payments. 

https://help.myob.com/wiki/display/ar/Reversing+and+reprocessing+superannuation+payments#expand-Tore...

Hope this helps!!!