Re- PAYG & Super

cmgreen

HI, I have been using Reckon for many years, evidently, I haven't been entering the PAYG & Super properly, when I paid Super, I put under a Superannuation expense account and when I paid PAYG, I put it under Wage expense account. How would I rectify this now? I have a Liability - Super account that has a big $, and a Liability - PAYG that has big $

Acctd4

Hi @cmgreen

Can you clarify whether you're referring to your actual payment of these liabilities or to the allocation of the Payroll Items ?

It's very easy to rectify the Payroll Item allocations but you'll need to manually edit/adjust your prior payment entries for the accounts & for the Payroll Items, enter via Payroll Liability Adjustments in order to correct those balances 😬

Payments for PAYG & Super should be entered via Create Custom Liability Payments (Under Employees dropdown menu > Payroll Taxes & Liabilities) as this clears the relevant account(s) AND the applicable Payroll Item(s) at the same time & keeps your payroll liability reporting accurate.

NOTE: PAYG & Super should both be separate liability-type accounts - It's the accrued liability that's being "paid", the expenses eg GROSS Wages (which includes PAYG) & Super - are already incurred on the Paycheque itself.

cmgreen

I think it is where I have made the payments, I haven't entered via Create Custom Liability Payments and that is I guess why Payroll taxes and Liabilities have just been increasing and never decreasing. I am really not up to date with all this. I have just been doing the basics but now need to get it up to date as much as possible before I upgrade my STP phase2

Acctd4

STP (orig & Phase 2) just updates YTD balances as per the actual Paycheques themselves each pay run, so it won't impact your STP at all 😊

Feel free to email me direct @cmgreen if you feel you would like some one-on-one assistance.

cmgreen

Thank you, your help is appreciated and has helped.