superanuation

Coralie Black

Hi there, I really need help with my Super payments. I use a clearing house and I do a manual journal to record the payment to the clearing house.
However, because of this, the super amounts are still sitting in the Employees super accounts even though I have physically paid them into a clearing house after using the Super stream to calculate the amounts each month. 
What am I doing wrong? Im not moving the amounts out of the Super liabilities account also.
Totally lost and confused

Kwikbooks (Professional Partner)

https://help.reckon.com/reckon-one/payroll/processing-a-superstream-payments 

Coralie Black

Thank you for the link, I have already seen this but it doesnt help. I have created the SAFF and paid the clearing house, but how do I enter this payment for the clearing house? What should the journal look like? How do I record the super coming out of the liability account for super also how can I record the super coming out of the individual employee fund? I cant understand how this happens. surely this should be an automatic journal once the super has been lodged.

Kwikbooks (Professional Partner)

Personally I do not use Reckon one payroll.  So maybe try the video or search community for brief question like  'pay super' reckon one.

Theory there should be a 'payroll liabilities' or 'superstream' option giving you manual choice as well.  A pay super liab. will put the payment to the individual staff or super liab. acct and to the bank account.

A jnl entry would be from...... dr super liab. acct / cr bank......  

If you can't find anything via the user guide or community, contact support.

Lynda Chater_9039203

Hi Coralie

Not sure I quite understand what you are doing but I would try this as a resolution to your problem.

Use the Payroll activity statement or super statement for your payments each quarter or month.

For payment from your bank for the superannuation amount

Do a transfer of this amount to a cash account

Now do all your employee superannuation payments to this cash account from the superannuation liability

- note to do this, go into your cash account and create a payment, put the date, next change from account payable to superannuation liability in the scroll down box, put the employee name then the amount.  Below you should see all the contributions for this employee for the time period, allocate the amount to the amounts below.

Once you have done this for all employees the amount in your cash account should come back to nil and your superannuation liability on each employee should be nil.

Hope this works

Lynda

Coralie Black

Hi Lynda, thanks so much for your help! Your answer really helped me sort out the super issues I had. I have completely fixed everything and all the accounts look perfect now. Thanks so much. You really saved my day!

Lynda Chater_9039203

Your welcome