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Tiu's avatar
Tiu
Experienced User
3 years ago
Solved

How to reverse an individual super contribution?

Hi,

 

Just a quick question, How to reverse an individual super contribution?

 

Unfortunately, one of the employees gave us incorrect details of his superannuation. We already got the refund, I am just wondering how to reprocess it to the correct super fund.

 

We have about 150-200 employees super contribution/quarter

 

Please help.

 

Thank you.

 

Kind Regards,

TIU

  • Komal_S's avatar
    Komal_S
    3 years ago

    Hi Tiu 

     

    Can you please confirm if you're using Essentials or AccountRight as the steps given below are for AccountRight software.

     

    Following this process will not affect your STP reporting as accruals have already been reported and you are just trying to fix the payment. 


    Laying out the process in simpler terms, this is what you need to do ( take a backup of your file before following these steps):

     

    1. Go to the Payroll command center and click Manage Payments.
    2. Click the zoom arrow to open the entire Pay Super transaction to be reversed.
    3. Go to the Edit menu and choose Reverse Pay Superannuation.
    4. Click OK to the confirmation message. 
    5. Set the Date to when the payment was returned to your bank account.
    6. Click Record Reversal.
    7. Go to Payroll>>Pay Liabilities, select the Liability type as Superannuation. On this window, select all the employees which were processed with correct details the first time, enter the payment date as the date of the original super payment and click Record ( This process would not deduct any amount from your bank account ). 
    8. Providing you've addressed whatever caused a contribution to be returned, you can now reprocess these super payments through Pay Super. This updates the accounts in AccountRight and resubmits the payment to the employee's super fund. To resubmit the returned contribution, go to Payroll>>Pay Superannuation, select the transaction to be reprocessed and click Record ( This process will deduct the amount from your bank account). 

    If you need further explanation on any step, please let me know. 

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  • Komal_S's avatar
    Komal_S
    MYOB Moderator
    3 years ago

    Hi Tiu 


    If you're using AccountRight, super transactions processed through a batch cannot be reversed individually. However, after you have reversed the entire batch, you can reprocess the successfully paid transactions through the Pay Liabilities window so they are not resubmitted to the pay super funds. After this, you will only see the transaction for one employee in the Pay Super window which can be processed as you like.


    This help article has step by step information on this process: Reversing and reprocessing superannuation payments.

     

    Let me know if you need further information on this. 

    • Tiu's avatar
      Tiu
      Experienced User
      3 years ago

      do we have an alternative solution? The company file has been closed and the STP was already finalised.

       

      Thank you.

    • Tiu's avatar
      Tiu
      Experienced User
      3 years ago

      sorry I am unsure what to do

      • Komal_S's avatar
        Komal_S
        MYOB Moderator
        3 years ago

        Hi Tiu 

         

        Can you please confirm if you're using Essentials or AccountRight as the steps given below are for AccountRight software.

         

        Following this process will not affect your STP reporting as accruals have already been reported and you are just trying to fix the payment. 


        Laying out the process in simpler terms, this is what you need to do ( take a backup of your file before following these steps):

         

        1. Go to the Payroll command center and click Manage Payments.
        2. Click the zoom arrow to open the entire Pay Super transaction to be reversed.
        3. Go to the Edit menu and choose Reverse Pay Superannuation.
        4. Click OK to the confirmation message. 
        5. Set the Date to when the payment was returned to your bank account.
        6. Click Record Reversal.
        7. Go to Payroll>>Pay Liabilities, select the Liability type as Superannuation. On this window, select all the employees which were processed with correct details the first time, enter the payment date as the date of the original super payment and click Record ( This process would not deduct any amount from your bank account ). 
        8. Providing you've addressed whatever caused a contribution to be returned, you can now reprocess these super payments through Pay Super. This updates the accounts in AccountRight and resubmits the payment to the employee's super fund. To resubmit the returned contribution, go to Payroll>>Pay Superannuation, select the transaction to be reprocessed and click Record ( This process will deduct the amount from your bank account). 

        If you need further explanation on any step, please let me know.