Urgent: salary sacrifice. Please help

Sorry to those that have seen this for a third time but I still have no idea how to fix my issue of salary sacrifice. I am the only one of my accountant's clients using Reckon One so he can't help me.

When I salary sacrifice the pay advice comes out correctly, BAS is correct but the P and L is wrong as it includes it in payroll rather than super liabilities. When I have retried to set up a new Salary sacrifice payroll item, I can't select an account to send it to (ie Super liabilities). Most of the other super options allow me to choose an account.

Please help as the pay was actually done on Monday (plus a number of earlier payruns that I will have to alter I imagine) but I can't allocate the payroll as will have to ultimately undo the payrun.

I'm using Reckon One with Payroll

Comments

Rav

Hi @jodie1622

Super Salary Sacrifice comes out of the Employee's gross pay. It is the employee that decides that part of his earnings will go into Super under the Super Salary Sacrifice arrangement. For this reason there is no Payroll Expense account for Salary Sacrifice for Super.

For the business, the amount of the employee's SSS is still part of Gross Wages and will appear as such on the P&L Report. When SSS is withheld (at the employee's request), the software by design will bundle the amount together with the Super Guarantee to the Payroll Liabilities: Super Payable account.

Payments to the Super Clearing House will be made from the Super Payable account. Neither Salary Sacrifice for Super nor Super Guarantee offers you a Payroll Liability account to credit the super amounts withheld from the employee.

jodie1622

Thanks Rav. The balance sheet and payroll summary still don't seem to correspond to each other correctly. Ultimately is seems that what I report to the ATO is correct so maybe it doesn't matter so much

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