Salary Sacrifice - YTD summary - showing under Total RECS

Elizabeth Kurniawan
Elizabeth Kurniawan Member Posts: 9 ✭
edited September 4 in Payroll Premier upgrade to Reckon Payroll ⤴️

Hi

Salary Sacrifice is showing as Total RECS rather than Total Superannuation - in YTD summary This was because the incorrect setting of pay item/superannuation please see below screenshot.

Please assist how to amend the setting.


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Thanks Elizabeth

Answers

  • Eric Murphy
    Eric Murphy Member Posts: 214 ✭✭✭
    edited September 4

    Salary sacrifice is RESC so if you have included this in your payruns then that's where it should be reported.


    Unless I'm misunderstanding your post?

  • Elizabeth Kurniawan
    Elizabeth Kurniawan Member Posts: 9 ✭

    Hi Eric


    Thank you for your post.

    I thought the salary sacrifice $ should be consolidated in 'Total Superannuation $' .

    If salary sacrifice is RECS, will it be reported as RECS in PAYG Summary at end of June 24 ?

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,091 Community Manager Community Manager
    edited September 4

    Hi @Elizabeth Kurniawan

    As Eric has mentioned, Salary sacrifice to super is a RESC component. It will be sent as such as part of your STP submissions.

    There is more general info about RESC from the ATO from their site HERE.

    Reckon Logo - Signature.png
  • Elizabeth Kurniawan
    Elizabeth Kurniawan Member Posts: 9 ✭

    Thank you Rav and Eric for your help.


    Kind regards

    Elizabeth

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