Correct employee superannuation in previous quarter

Helen
Helen Member Posts: 3 Novice Member Novice Member

Hi,

Our client has just updated their Reckon Account (Desktop) to 2023 version in order to start using STP Phase 2, starting from 1 October 2023. I assume the employee super will be automatically calculated at 11% after this upgrade.

However, we just note that the employee super amount for the July - September 2023 quarter was incorrectly calculated at 10.5% which is the old rate from last year. What should we do now to correct the super amount for the last quarter?

Your assistance in this regard is highly appreciated.

Best Answers

  • Kris_Williams
    Kris_Williams Member Posts: 3,761 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    Answer ✓

    Go into each pay, click on hours and change it, the super should then update to the new rate, then change back. It doesn’t really matter what you change you just have to change something to refresh the super

    you can all me if you need to

    0415940843

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,855 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    Answer ✓

    Hi @Helen

    Has the client been submitting via STP 1 previously & has the new inbuilt STP2 Migration Assistant - in their new 2023 version - been run & completed ? (This migration needs to be done FIRST as the 2023 versions are only STP2-compatible!):

    It's also vital that the Complete STP Phase 2 Setup option is clicked afterwards as this updates the new configurations! (NOTE: Launch ... exports the Payroll Items for the mappings to be selected, Complete ... saves them!)

    STP reports YTD balances only (rather than each specific pay run's amounts) so any changes made - for existing/current employees - will automatically update their figures in the next submission. If a change is made to a Terminated employee's Paycheque(s), these will still get picked up in the Finalise Year STP submission at EOFY ☺️

    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!)
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,855 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    Answer ✓

    Hi Helen

    As STP just updates YTD, you can just submit the most recent one as this will incorporate all the lodgements prior.

    NOTE: It's important to check your figures prior to each submission - This ensures it's always accurate with no surprises when finalising. I have a specific customised report for pay runs & also one for EOFY that I have memorised & never lodge a submission without checking against the applicable one first.

    You'll find some info on how to do this in my posts here: https://community.reckon.com/discussion/8033502/stp-reporting-errors#latest 😊

    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!)

Answers

  • Helen
    Helen Member Posts: 3 Novice Member Novice Member

    Hi Kris,

    Thank you very much for your quick response. How do we report these changes with the ATO via STP?

    Thank you.

  • Helen
    Helen Member Posts: 3 Novice Member Novice Member

    Thanks @Acctd4 for your response. Much appreciated.

    Yes, the client reported wages via STP 1 for the July - Sep quarter and has just upgraded their Reckon this week. STP Phase 2 Migration has been run and completed after the upgrade.

    Am I correct that the client will need to go into each pay in the September quarter to correct the super amount, then the YTD balances will be automatically updated in the next STP submission.

    Can we just do a special pay run at the end of September to correct the underpaid super amount only?

    Thank you.

  • Kris_Williams
    Kris_Williams Member Posts: 3,761 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    I don’t believe there is any quick way to do this, but as Shaz said once fixed the next STP submission will pick up the new figures