Super liability payment amount is not the same for a nominated period as calculated during payroll.

Graham Taylor Automotives
Graham Taylor Automotives Member Posts: 41
I am trying to create a superannuation liability payment using the 'Create custom liability payment' function. Through this you select the dates for the period you want to pay. 

I have checked the rechecked the amount to be paid in super for the nominated period is correct.

We pay based on week ending dates, however for the super liability to encompass all days paid in the period I believe I actually need to select the first day of the period up to the last day of the period. So this is the week starting date for the start of the period (1 June) and the weekending date which is the last day of the period (28 June). 

When I do this however the same amount over that is calculated over the 4 weeks during payroll which is paid weekly does not coincide with the amount over the whole period as listed in the liability payment. 

i.e. If I add up the 4 four weeks of super due I get 309. When I create the liability payment selecting the start and end dates I get 306.00 owed. 

I have checked that I have set up the super payroll items correctly, as well as loaded them as a supplier, and nominated them against the relevant employees. All records are as complete as can be. 

The only item I am unsure of is if I need to allocate 'Tax tracking' in the payroll item. Currently this is set as 'none' as none of the other options seemed to be correct either. The other option is to select 'Gross'. All superfunds are APRA funds and I am only paying SA. I'm not sure that this setting however would affect anything as it just appears to be for reporting purposes and more for if you are paying SMSF or more super than required.

I know that I can change the actual amount paid. However I do not know how this will effect the system if at all. I don't want to have un-allocated amounts that I can't do anything with because I paid something different than what the system says that I should. 

Any advice, suggestions, other things that I may have overlooked or settings that may not be correct and completed that I can check would be appreciated. I have searched for a 'how to set up super liability' and could not find any guides. 

Thank you very much

Jayne

Comments

  • Graham Taylor Automotives
    Graham Taylor Automotives Member Posts: 41
    edited September 2016
    Sorry- Running Reckon Accounts Premier Edition 2015 with Payroll. 
  • John Graetz
    John Graetz Member Posts: 1,650 ✭✭✭
    edited July 2020
    Hi Jayne.  As a preliminary step.  The pay week date has no relevance as far as any reports are concerned, as everything works on the date of the actual payment in your books and in your bank (which should be the same).  If your pay week ends on say 31 July but you only make the payment on 3 August, all recordings, including superannuation and payroll liabilities, are recorded under the date of 3 August and NOT 31 July.  Are you aware of this?  When you create the Liability Payments, it looks to see what has actually been "paid" by payroll (and through your bank account) for that specific period.  John L G 
  • Graham Taylor Automotives
    Graham Taylor Automotives Member Posts: 41
    edited September 2016
    Hi John,

    Thank you for your reply. I actually about to delete this as I resolved the issue a few minutes ago before I saw this just by changing dates.

    Due to some financial concerns in the business a select few pays have not been strictly paid on the Monday, I had indeed overlooked this until I checked back through my records to identify which weeks this applied to. I was however aware of that thank you.

    I feel a bit silly that my memory let me down, but I shall leave this up in case anyone else has a query like this and your reply may assist them. 

    Jayne
  • John Graetz
    John Graetz Member Posts: 1,650 ✭✭✭
    edited July 2020
    Hi Jayne.  Good that you were able to resolve it.  If you normally pay on the same day as the week-end, the matter of a deferred payment only becomes a real issue where the pay week and the payment date are in different months.  John L G
  • patricia_8164986
    patricia_8164986 Member Posts: 1
    edited April 2016
    Is to select the dates for the period you want to pay