Partner Zone

Incorrect superannuation calculations

eckie
1 Post
User
User

1Posts

0Kudos

0Solutions

Incorrect superannuation calculations

Hi

 

Our MYOB has not updated from the 9.5% super to the 10%.

 

We have now adjusted the superannuation cards for each employee to the correct amount of 10% - Unfortunately now when we process the payroll, the superannuation has automatically calculated it to 11.5%???

 

Does anyone know how this glitch can be fixed?

 

Regards

Tracey

1 REPLY 1
Sam_R
MYOB Moderator
556 Posts
MYOB Moderator
MYOB Moderator

556Posts

47Kudos

92Solutions

Re: Incorrect superannuation calculations

Hi @eckie,

 

If there are pay runs recorded at 9.5% in this month, and the % is changed during the same month, the system will pick up the % it missed in the previous pay runs, trying to bring the entire month up to 10%. This is because Super calculates the % of gross wages for the entire month. 

 

Assuming you have recorded 3 pay runs this month, this new pay run that is reflecting 11.5% is just taking into account the .5% x 3 pay runs it needs to catch up on. 

 

You can also do a dummy pay run in the next month to ensure this is not a system issue and moving forward will calculate the 10%. 

 

Let me know if I can assist any further, happy to help. 

Kind regards,
Sam

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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