Superannuation YTD does not agree to the total of super submitted each month

CSLT
CSLT Member Posts: 7 ✭
edited January 3 in Reckon Payroll 🚀

Hello,

We are a family company of 2 employees and I have to override the auto calculations for superannuation. My YTD figures do not agree with the total of the monthly contributions.

Thanks for your help.

Comments

  • swakhlu01 .
    swakhlu01 . Member Posts: 482 Payroll App Expert Payroll App Expert

    @CSLT one can choose any superannuation guarantee rate when you create the payrun as long it is higher than the current default rate of 10%. Check this video from Reckon. (refer approx 2:50 time marker)

    https://www.youtube.com/watch?v=c0SnZM8TBJo&list=PLoUtvAKOpZWsJf9zFe4HlCb7-MAH7JCZC&index=4

  • CSLT
    CSLT Member Posts: 7 ✭

    @swakhlu01 . Thanks for your response. Yes have been adjusting the super rate.

  • swakhlu01 .
    swakhlu01 . Member Posts: 482 Payroll App Expert Payroll App Expert

    @CSLT If you are already adjusting the super rate in each payrun, then you may have to locate the Payrun which caused the error and create an adjustment Payrun with the right super rate based on Wages paid amount. Alternatively wait until end of year and adjust the Initial Employee super amount in the Employee settings so that the YTD figures match. This way when you generate the EOFY Payrun it will be the correct amount that will recorded in the ATO income statement for the two employees.

    It might also be advisable to check with a tax accountant that you are following the correct STP reporting process as per recent changes in ATO rules for STP for micro employers.

  • CSLT
    CSLT Member Posts: 7 ✭

    Thanks. I checked each month's but will check again. We were exempt till 1/7/2021 hence my problems in July and August.

    As a last resort I may have to pay Reckon a monthly fee and see if they delete my duplicated payroll (the other post). My accountant's hourly rate is probably 8 times Reckon's monthly rate!

    But do appreciate your help. Thanks again.

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,305 Community Manager Community Manager

    @CSLT

    My YTD figures do not agree with the total of the monthly contributions.

    How and where are you checking the full Year to Date balances? In the 'Pay Summary' tab in the employee profile? If so, then please be aware that the balances you see there is the combined total of any paid pay runs that the employee is part of + any initial year to date balance that the employee has (found in the 'Initial YTD' tab when selecting Edit on the employee profile).


    As a last resort I may have to pay Reckon a monthly fee and see if they delete my duplicated payroll (the other post).

    I've had a look at your other post and there's not enough information there to understand what you mean by 'double counted'. @swakhlu01 . has given you some info on that post though which is great and something for you to follow up on. Please note, we do not and will not, delete any STP submission data on our end regardless of whether you're on the free basic plan or Premium plan on the Payroll App.


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  • CSLT
    CSLT Member Posts: 7 ✭

    My July 2021 payroll was inadvertently submitted under the previous simple STP app. I did not realise it was successfully submitted. I submitted another July payroll because when I checked the list of payrolls under the new Reckon app. July was not on the list. I will ask my accountant and see if they can correct it with the ATO.

  • CSLT
    CSLT Member Posts: 7 ✭

    ps Thanks Ray. So I won't have to subscribe to Reckon at least not yet.