Split Superannuation between expense and COGS

Sam_Sirus
Sam_Sirus Member Posts: 10

We have a service based business and i would like to split the direct labour superannuation expense for our guys between COGS and the general superannuation expense account.

I believe i will need to set up some new accounts.

Can anyone help in this regard.

Much appreciated :)

Comments

  • Acctd4
    Acctd4 Accredited Partner Posts: 1,912 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 4

    Hi Sam

    Yes, create 2 separate Payroll Items for each applicable fund, along with an additional COGS account

    eg Payroll Items:

    • AMP (COGS)
    • AMP (Exp)
    • AustSuper (COGS)
    • AustSuper (Exp)

    Accounts:

    COGS:

    Payroll COGS:

    • Super (COGS)

    Payroll Expenses:

    • Gross Wages & Salaries
    • Super (Exp)

    Link the Payroll Items to the applicable accounts


    On the Employee record, under the Super section, select the applicable Super Payroll Item accordingly as the default.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015) * ICB-Certified Bookkeeper * Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Sam_Sirus
    Sam_Sirus Member Posts: 10

    Thank you Shaz Hughes. I have created the accounts as you suggested. The only issue I have is that each employee will have super split between the two super accounts (cogs and super expense acct) each week depending on what job they are doing (generally allocated to cogs when working on a job that will be invoiced and not allocated to cogs when they are doing fill in work around our workshop). This hourly allocation is different each day. I have had to manually calculate the super for each person based on the hours they work towards cogs or super expense. Do you know a way around that?

    Also, I note that both the super amounts (cogs and expense) are showing on their pay slips as individual line amounts . Do you know of a way i can combine the two to show one amount as the pay slips are looking a little messy.

    Thanks in advance.

    Samantha Cook

    Sirus Contracting Pty Ltd

  • Acctd4
    Acctd4 Accredited Partner Posts: 1,912 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Hi Sam

    I replied on your other thread but just to reiterate ...

    Unfortunately, the system is unable to automatically split the Super on a Paycheque as a rule, however it can be done using Class or Customer:Job tracking.

    The Payslip will show Payroll Items used - Because a Payroll Item can only link to a single account, if you want links to multiple accounts but only using a single Super Payroll Item, the only way to achieve this would be as per the tracking suggestions above 😬

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015) * ICB-Certified Bookkeeper * Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)