Is it possiable to put customized numbers in Total superannuation in EOFY?

Kris_10862003
Kris_10862003 Member Posts: 8 Novice Member Novice Member
edited January 3 in Reckon Payroll

Dear staffs,

I have a problem on my EOFY's total superannuation. Becaue some of our workers are earing below $450 in past few months. So, the superannuation is exculded. But based on my accountant's information, they are suppose to have superannuation. Is there any way to adjust the numbers in EOFY or it is fixed 10% rate for superannuation?


Kinds regards,

Kris

Comments

  • Rav
    Rav Administrator, Reckon Staff Posts: 16,418 Reckon Community Manager Community Manager

    Hi Kris

    Are you referring to pay runs that have been created within the current 2022/23 financial year ie. a pay date 1 July 2022 and after OR is this related to pay runs in the previous FY?


    From the 1 July 2022 mandated changes to superannuation have taken effect, specifically the removal of the former $450 monthly threshold and an increase in Super Guarantee from 10% to 10.5%. You'll find more info from the ATO here.

    There are special provisions for employees under 18 who are working less than 30 hours per week which you'll find info to below.

    https://community.reckon.com/discussion/8031908/how-do-i-handle-super-for-under-18s-working-less-than-30-hours-per-week-in-the-payroll-app


    Can you provide a bit more info on the situation around the pay runs you've created and whether your employees are eligible for super.

  • Kris_10862003
    Kris_10862003 Member Posts: 8 Novice Member Novice Member
    edited October 2022

    Hi, Rav

    I am referring to pay runs that have been created within the current 2021/22 financial year. And my employees are all over 18. So, is that possiable to make their superannuation ouccring even they are below $450.

    Kinds regards,

    Kris

  • swakhlu01 .
    swakhlu01 . Member Posts: 482 Reckon Star Reckon Star

    Hi Kris

    Just to be clear the current financial year is 2022/23. The $450 per month exception was for last FY 2021/22.

    If you want to adjust the Superannaution for the FY2021/22 for the affected employees, you could update their Initial YTD FY2021/22 summary. This will avoid the need to adjust individual payruns. Make sure the effective date you choose is prior to 30th June 2022. Also the YTD summary may not show the updated figures until an EOFY 2021/22 Payrun is created.

    https://help.reckon.com/article/uz5x44p19d-reckon-payroll-app-adding-employees#initial_ytd

Categories