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Super Guarantee hasn't calculated correctly for 2023-24

ljarvis

So clearly I should have noticed this earlier, but come the last pay run I've noticed all runs for the 2023-24 FY have only calculated the super guarantee at 10.5%. This is despite the statutory rate being selected and 11% showing in the settings. How can I correct this for the full FY? Also, how can I correct this going forward?

Accepted answers

Rav

Thanks for confirming, the copy pay items feature has been improved in the latest update of Reckon Payroll which you'll find info on HERE.

In regard to the current pay runs you've already created though, yes unfortunately you'll need to edit the pay run(s) and amend the super rate on those pay runs.

Once they've been corrected and if you're ready to send your EOFY finalisation, you can just send one EOFY finalisation which will carry the updated balances.

All comments

Rav

Hi @ljarvis

Out of curiosity, are you using the Copy pay items from last pay run option when creating your payruns?

Also, if you go into an individual pay run and click on the Super item within that pay run, is it set to Statutory Rate or Percentage?

ljarvis

Hi Rav, yep I've since worked out that I've created the problem by using the copy pay items from last run. So even though I have the statutory rate selected, it ignores that this has changed. So I'm guessing I will now have to amend every single pay run for the 2023-24 FY to correct this?

Rav

Thanks for confirming, the copy pay items feature has been improved in the latest update of Reckon Payroll which you'll find info on HERE.

In regard to the current pay runs you've already created though, yes unfortunately you'll need to edit the pay run(s) and amend the super rate on those pay runs.

Once they've been corrected and if you're ready to send your EOFY finalisation, you can just send one EOFY finalisation which will carry the updated balances.

Zandra Mathieson

I've had the exact same thing happen. 😫 Am now having to go back & amend every payrun for the financial year so I can finalise my STP. The reason why I picked it up? When I processed the payrun for the first fortnight of the new financial year, I double checked the payrun because I knew that the PAYG withholding has changed & wanted to check to make sure the rates had updated in Reckon. Whilst doing that, I checked the super & that's when I found that the rate hadn't updated because I was processing my payruns as per ljarvis & "Copying pay items from last run".

Interesting though that when using that option to process the payrun, it still updated the PAYG withholding rate & didn't carry over the PAYG withholding rate from the last payrun (which in this case would have been the rate from last financial year), but did with the super. I would think that anything that was mandatory, like super guarantee rates, would stay at the current rate regardless of whether you're "Copying pay items from last run"….