EOFY Superannuation amount incorrect

G Johns
G Johns Member Posts: 5

Hi, we have one employee. The superannuation amount in EOFY report is incorrect as is the figure in employee pay summary for the financial year. The superannuation amounts in pay details for the employee each fortnight are correct as super is paid on a packaged salary amount. Correct super figure for the year should be $6,284-59. How do I change the amount in the EOFY Report to be submitted to ATO to reflect correct amount paid for the year?


Comments

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,094 Community Manager Community Manager

    Hi @G Johns

    The balances for super in the both the Pay Summary AND the EOFY finalisation screen will show the allocation of super at the default rate only. If there has been any super paid over and above the 10% rate the Payroll App does record and send it through as part of the submission however its just not visibly shown on-screen at this stage.

    Does this apply in your instance? ie. do you change the super % paid to the employee during creation of a pay run to something over the default %?

  • G Johns
    G Johns Member Posts: 5

    Thanks for the response Rav. Yes I do change the super % each time I create a pay run.

  • swakhlu01 .
    swakhlu01 . Member Posts: 483 Payroll App Expert Payroll App Expert

    @G Johns If you have been paying greater than default 10% super rate to the employee in the regular payruns then any excess super above 10% (for 2021-22 FY) will show up in the YTD Income statement for employee as Reportable Employee Super Contribution (RESC). As mentioned by the Community Manager, there is a display issue in the Reckon Payroll Summary and EOFY reports which only shows the 10% default amount.

    Best option is to check the employee YTD Income statement in the ATO Mygov account. If this is showing the correct amounts then you can submit the EOFY 2021-22 Payrun report to finalise the Income Statement. Hope this helps.

  • G Johns
    G Johns Member Posts: 5

    Thank you. Will check it out.

  • G Johns
    G Johns Member Posts: 5

    Hi, just letting you know that I have spoken to an accountant who advised that whilst RESC as mentioned in your above response may be the case for the majority, it does not apply to us. Could your development look at that issue for the 2022/2023 financial year please? Thank you.


  • swakhlu01 .
    swakhlu01 . Member Posts: 483 Payroll App Expert Payroll App Expert

    @G Johns If you are not paying any reportable super contribution then you don't have to report any additional superannuation payment to the employee through STP. In that case you only need to calculate the superguarantee payment of 10.5% for the employee and submit the payrun. You may have to show these amounts in the employee pay slip but not report to ATO through Payroll app.

    I don't work for Reckon but am a user like yourself.

  • G Johns
    G Johns Member Posts: 5

    Thank you for your reply. Will check that out.