Super for Contractors
Hi I have recently started up new construction company, all of our workers are contractors, some charge gst and other expenses as well as their labour on itemized invoice. I have to set up super on labour only.
My question is: I have followed the Legacy KB ID: 5360 discussion, on how to set this up. Some of the language is not very clear, or seems to be back the front? eg contractors not gst registered to enter as contractor-no super on pay roll. Would this be a typo?
Also, at the end to reconcile the bank account created, if I follow the steps suggested (which is basic on how everything is reconciled. I'm left with bills paid only and nothing\no account in the debits to reconcile with? Am I missing a whole step somewhere in the payroll paycheck process, as this info says to pay this payroll check created with normal banking acc.
Also, now I have extra expense accounts created doubling up one invoice expense.
I'm so confused right now.
Thanks
Answers
-
Yes, if the contractor is NOT GST-registered, you can create an "Employee" record for them - omitted from STP - in order to report & pay this super in with your usual employee super liabilities.
Otherwise, you can enter the debit & credit (exp v negative liability) on the Bill or Chq.
I have a document I've written up with instructions for this. Happy to send it through to you if you need - Just shoot me an email direct π
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
(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!)
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