Correct employee superannuation in previous quarter

Question

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.

Kris_Williams · Accepted 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 · Accepted 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 ☺️

Acctd4 · Accepted 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 😊