Salary sacrifice

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jodie1622
jodie1622 Member Posts: 8 ✭
in Reckon One

Hi all,

I salary sacrificed to super for an employee last financial year. The accountant has told me the amount has gone into the wrong place on the P and L statement. He says it has gone to payroll expense instead of super expense. Originally the payment was created in a payrun with ordinary earnings (total $1500) and then salary sacrifice ($1500) so net wage is $0. Apparently single touch payroll and BAS are correct. The payrun has created a journal that debits payroll expense but I think that should be super expense instead. Assunming it's something I've done in the set up of salary sacrifice or is this how it should be?

If someone could please advise what I need to do to correct it for the future and correct previous entries as there are more from this financial year...

Thanks

Jodie

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  • Kris_Williams
    Kris_Williams Member Posts: 3,307 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    Go to the super item and change the account it is linked to to the correct one.I’m not sure if this will automatically change the original amount, but if you go back into the pay and change one little thing, save, go back in and change it back it should then change the account association. Just make sure you write down or take a photo of the pay before you make any changes so you can be sure you put it back the way it was.

  • jodie1622
    jodie1622 Member Posts: 8 ✭
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    Thanks Kris. I thought that might be the issue but when I go into payroll settings: pay items, it doesn't seem to be linked to any account and I can't find how to change it?

  • Kris_Williams
    Kris_Williams Member Posts: 3,307 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    I’m looking for the correct procedure, hopefully I’ll get back to you soon

  • Kris_Williams
    Kris_Williams Member Posts: 3,307 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    I’m sorry but I’m going to leave this for someone else to answer, I can see what you mean about no linked account, but I’m not an expert on this feature and don’t want to mislead you

  • jodie1622
    jodie1622 Member Posts: 8 ✭
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    Thanks for your help so far though Kris. Much appreciated

  • Kris_Williams
    Kris_Williams Member Posts: 3,307 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    If you setup a new Pay item for Salary Sacrifice and select EA additional.... as the subtype, you get the chance to allocate it to an account. Then go back to the pay and change your original one to the new one. See if that fixes it

  • jodie1622
    jodie1622 Member Posts: 8 ✭
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    I love your work around thinking. Will try it out. Thank you again

  • jodie1622
    jodie1622 Member Posts: 8 ✭
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    Hi Kris/Rav/anyone else who has any ideas,

    Not sure if you'll see this as has been a month since original post. I have finally got around to trying to set up the pay item again and when I choose SS (Salary sacrifice) it doesn't actually give me any option of where I can allocate the payment to. Not sure where I should go to now...

    Jodie

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