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Re: Backpay - How to amend incorrect amount allocated to Lump Sum E
Hi Sam, I followed the instruction in link provided to reprocess paid super contribution. It solved the problem in the Pay Super window, but now I have an amount unreconciled in bank rec. window. I can only see the Pay Liability transaction not the reversal. Have I missed something? I have attached screenshot of pay liablities transaction + bank reconcialiton window.317Views0likes0CommentsRe: Backpay - How to amend incorrect amount allocated to Lump Sum E
Hi Sam, Thanks for getting back to me. I have reversed the original pay and reprocessed using same dates and allocating lump sum E correctly Now when I go the Pay Superannuation window. The SG super for this pay has reappeared but not the reversal. (to cancel it out) This super has already been paid to Hostplus. How to I clear it out? Thank you.338Views0likes2CommentsBackpay - How to amend incorrect amount allocated to Lump Sum E
Hi, On 28 November I paid an employee backpay and allocated the entire amount to Lump Sum E 20/21. I have since spoken with my accountant and only the portion relating to 12 months prior to 28/11/22 should be allocated to Lump Sum E, the remainder is normal back pay. To fix this I tried to process a zero pay by entering the correct amount as backpay categoery and debiting the same amount in the Backpay for 20/21 category. Myob will not let me process this pay, and I get an error message saying ATO require LumpSum E payments to be over $1200. The amount is -$12,115.52 Can you please provide some instructions on how to correct. Thank you.402Views0likes4CommentsRe: Reversals in Electronic Payment Window & overpayment of wages
Hi Tracey, This is a problem further to my previous post regarding reversing and re-entering pays due to entering salary salary sacrifice as a postive amount instead of negative figure. The pays have been amended and I have cleared the electronic payments as per your instructions. The 3 pays were in the months of September & October. This all worked well and I thought everything was ok until it came time to pay super. To fix the Salary Sacrifice amount, I adjusted the amount on the next pay (dated 1/12/22) . 3 x $450 was changed to -$3150 (6 x $450 = $2700 + $450 for the current pay). This adjustment won't be included November's super payement but the reversals & re entered pays will be. The Super had already been paid for September & October via Pay Super before I did the reversals and re-entred. How do I ensure the correct amount of super is paid to the employees's super fund? If I filter the date range to Include September through to November, will the super payable be automatically adjusted? I hope you can help me again. Thank you823Views0likes1CommentRe: Reversals in Electronic Payment Window & overpayment of wages
Hi Tracey, I think I have worked out how to adjust the next pay to fix overpayment but would like to know which sequence to process reversals. Should I reverse the second pay transaction and then the reversed pay, leaving the original pay? Will this fix the transactions sitting in the Prepare Electronics Payments window or will I have to reverse these transactions too? How will the super for September be affected seeing it has already been paid via Pay Super I would really appreciate if you could get back to me shortly. Thank you.967Views0likes4CommentsRe: Reversals in Electronic Payment Window & overpayment of wages
Hi Tracey, Thanks so much for replying to my question. The super & payg has already been paid for September for the correct amount (the amended pays) - not the overpayments that I reversed. Would it be best to now to deduct the overpayment from the next pay? I have not recorded any further transactions as I could not work out how account for the salary sacrifice. There are three pays each with $450 salary sacrifice allocated incorrectly. Could you please show me an example? Thank you.984Views0likes5CommentsReversals in Electronic Payment Window & overpayment of wages
I have 6 transactions (includes 3 reversals) sitting in the Electronic Payment Register relating to 3 pays for the same employee that I’m not sure how to clear without affecting the bank reconciliations. Initially I made a mistake when setting up the Salary Sacrifice for one employee. It was set up as a positive rather than negative amount for 3 pays. The wages have been paid electronically to the employee for the incorrect amount. E.G. Salary Sacrifice was added to gross wage instead of being deducted. So that the amounts would be reported correctly to the ATO, I reversed the incorrect pays and then ran again with the correct amount. My question is; How can I clear the electronic payments (they don’t cancel each other out due to the different amounts) without affecting the bank reconciliations? How do I account for the overpayment of wages? I have read the support notes but I can’t work out how to apply it to this error. Your help would be much appreciated.Solved1.2KViews0likes7Comments