contractors

2 Topics

Paying Super to Contractors
Hi, I have a contractor for whom we are required to pay superannuation, and I have set them up as an employee according to MYOB guidelines. However, when I process the zero pay with the super (as per MYOB instructions), I encounter the following issues. What does MYOB recommend doing, given that the problem arises from the limitations of the MYOB payroll options?
vilyjayne
2 months ago Place MYOB Business: Payroll & MYOB Team
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Paying super to contractors using Pay Bills
Hi, I've read a number of posts discussing using the Labour Hire employee card to pay super to contractors. This option does not work for our company (for a number of reasons that are lengthy to explain). I read the following on another forum though: 'Another method is for putting the payment through on a Bill. If you do this, when putting through the contractor payment on the bill, add a line to the purchase for super. This line will be against the Superannuation Payable Liability account, and will be for a negative amount. Following this you can do a spend money against your bank account, using the Superannuation Payable Liability account as the allocation account.' I have tried to set up a line item for this but when I go to use 'Superannuation Payable' liability as the account, it wants me to change it to an expense account. I have expense accounts set up for Super by state ie Super NSW, Super VIC etc. These are the accounts I pay super out of to our clearing house when I process a Spend Money payment. Would it work to set up in a Purchase a line item that sends the amount of super for each invoice to the Super by state expense account and a positive amount that then just gets paid out of those accounts in Spend Money? Or would that mess up my accounts journal?
Teigan
2 years ago Place AccountRight: Sales and Purchases
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