How to record super fund bounced back? and how to record new supe rliability to pay out

lauranguyen
lauranguyen Member Posts: 6 Novice Member Novice Member
edited January 2023 in Reckon Accounts (Desktop)

Hi all,

We've got superfund bounced back to our bank account because employee's super was incorrect.

How do we treat with this refund amount and how do we create another liability to payout this amount?

Thank you so much!

All your help is appreciated.

Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,754 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Record this via Deposit Refund of Liabilities (under the Employees dropdown menu > Payroll Taxes and Liabilities)

    IMPORTANT: Make sure you enter the correct dates for:

    • Refund Date (eg the date you receive the refund from the fund into your bank account) &
    • For Period Beginning date (1st of the applicable Super month/quarter that this relates to)

    as these dates ensure the refund shows in your bank rec on the correct date & ALSO goes back in as a liability for the correct period!

    You don't need to create the liability again as this process should then show this return amount reflected in your Super Liability reports/Payroll Item again, as applicable 😊

    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

    shaz@accounted4.com.au

    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!)