Underpaid superannuation

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Contributing Cover User Itsasteel
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Underpaid superannuation

I was new to business when starting 1 July 2017 and have just realised I have not paid my one employee super on public holidays and annual leave loading.

I know which past pays need adjusting. 

If I delete a pay how do I adjust it without having to bank again. As to complete a pay run you need to print and then their is the bank download file. Also it is now complicated as I am about to use single touch payroll.

 

Would another way be to manually work out the underpayment and just pay that as a lump sum to the super fund?

 

I really am not sure how to do this and would like help and advice please.

 

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Ultimate Partner IanChait
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Re: Underpaid superannuation

Hi @Itsasteel 

 

There are Tax Office rules that apply when you have not paid the correct Super. Have a look at the ATO link.

https://www.ato.gov.au/Business/Super-for-employers/Paying-super-contributions/Missed-and-late-payme...

 

Generally, if the Super was incorrectly calculated in the program, I would work out the amount owing, and record a void paycheque. Select the employee and insert nil amounts in all fields, except in the Superannuation fields - enter the Super due- negative for the Superannuatio Payable line and positive in the Superannuation line. When you record the pay, you will get a warning question that this is a nil or void paycheque. Click OK. The Super will now have been recorded and can be paid via the program.


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

Contributing Cover User Itsasteel
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Re: Underpaid superannuation

I thought my accountant was going to fix my underpaid super issue but she hasn't been able to. 

I have gone back to this answer from Ian Chait but I am unable to enter a negative- in super payable line. Is there some trick to doing this please?

MYOB Moderator Maxine_BC
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Re: Underpaid superannuation

Hey @Itsasteel,

 

I would probably recommend working out the total amount of Super you have owing to the employee (which it sounds like you have already done). Next you could contact the Super fund and ask if they will allow a lump sum transfer (this however wont show up on stp unless it goes through the payroll).

 

If you are wanting to do this, you can process a void payrun for the amount of super, create the contribution file for that contribution, dont upload it to super portal and match that to the payment from your bank to super fund.

 

Alternatively, you can also make this extra payment throught the Super portal if you wish.

 

I hope this makes sense. Please reach out if you need any more help with it.

 

**If this response has been useful, please click the "Accept As Solution" button to help other users find this information.**

 

Cheers,
Maxine

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