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Sandyw13's avatar
Sandyw13
Experienced Cover User
4 months ago
Solved

Returned SGC payment

I have a quarterly SGC payment returned due to a change if super fund for an employee.  The payment was for all SGC payments earned from 1/10/23-31/12/23 and I received it back 22/1/23.  I have done the Receive Money to put it back to the bank account but am unsure what to do next to be able to reprocess the payment through the MYOB clearing house. 

I do recall seeing somewhere that I needed to do a -ve SGC transaction through payroll.  If this is the case can I just do it as a bulk amount and use 31/12/23 as payment date and a pay period of 1/10/23-31/12/23?

  • Genreve_S's avatar
    Genreve_S
    4 months ago

    Hi Sandyw13, 


    Thank you for your follow-up questions. I appreciate your active participation in our forum.

     

    From what I understand, the answers to most of your queries can be found in the help article I shared in my previous response.

     

    To address your current concern, you'll need to create separate pay runs for the negative and positive payments, with dates corresponding to the previous pay run's period. I suggest going through this article, "Returned Superannuation Contributions". It provides a detailed step-by-step guide that should be helpful.

     

    If you have any more questions after going through the instructions, please don't hesitate to ask. We're here to assist you.

     

    Thanks,
    Genreve

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  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    4 months ago

    Hi Sandyw13, 


    Thanks for posting this concern in the forum. 

     

    I'm sorry to hear about your difficulties with the returned SGC payment. In my understanding, you are halfway through the process after recording a Receive money transaction. As you mentioned previously, you just need to create a negative pay run amounting to the total returned super payment for that employee to balance the amount against the employee. After that, you can reprocess a positive pay run with the amount of the super payment so you can reprocess the super payment from the Pay super window. (Make sure that the employee's super information is correct before doing this.)

     

    I recommend reading through this article, Returned Superannuation Contributions. This will provide you with a better insight into returned contributions.

     

    Let us know if you require any further assistance.

     

    Thanks,
    Genreve

    • Sandyw13's avatar
      Sandyw13
      Experienced Cover User
      4 months ago

      Thanks for the response Genreve but I am unsure as to what dates and pay periods to use when processing the 2  payroll entries.  The amount returned was a bulk amount relating to fortnightly SGC instalments for the period 1/10/23-31/12/23 which were paid in January 2024.  The returned payment was 18/1/24.   I have obviously used the 18/1/24 for the receive money

       

      Can I just do the one -ve and one +ve payroll entry for the bulk amount? If so:-

       

      In payroll do I use a payment date of 31/12/23 as that is the period the SGC's were for?

       

      Is the pay period start of 1/10/23, pay period end 31/12/23?  

       

      Do these same dates apply for both the -ve and +ve payroll entries?

       

      OR do I have to do entries for each fortnightly SGC payment using dates appropriate to the original wage payment?

      • Genreve_S's avatar
        Genreve_S
        MYOB Moderator
        4 months ago

        Hi Sandyw13, 


        Thank you for your follow-up questions. I appreciate your active participation in our forum.

         

        From what I understand, the answers to most of your queries can be found in the help article I shared in my previous response.

         

        To address your current concern, you'll need to create separate pay runs for the negative and positive payments, with dates corresponding to the previous pay run's period. I suggest going through this article, "Returned Superannuation Contributions". It provides a detailed step-by-step guide that should be helpful.

         

        If you have any more questions after going through the instructions, please don't hesitate to ask. We're here to assist you.

         

        Thanks,
        Genreve