Duplicate Accounts for Super liability

ROB PAYNE
ROB PAYNE Member Posts: 34 Reckoner Reckoner
in Reckon One

Somehow we have been running two accounts for our superannuation liability

One "Super Payable"

Screenshot 2025-01-05 120438.png

the other "Superannuation Payable"

Screenshot 2025-01-05 120604.png

I would like to merge the two and only have the one account "Super Payable" - as this one is linked to the payroll

  • when i Try to edit the name of the 2nd account to match the 1st one - I get the following error
Screenshot 2025-01-05 120825.png

Please advise solution

thanks

ROB PAYNE

Comments

  • Lucas
    Lucas Reckon Staff Posts: 310 Reckon Staff
    edited January 6

    Hi @ROB PAYNE,

    Unfortunately, we do not have the ability to merge accounts in Reckon one at this time.

    The only recommendation as a workaround would be journal entries to make the correct adjustments in your record keeping, since you are unable to merge the two liability accounts. If you would like to make a suggestion on our ideas portal to maybe get this added in the future, please do so here: Reckon Product Ideas.

    Thank you and speak soon.
    Lucas

  • ROB PAYNE
    ROB PAYNE Member Posts: 34 Reckoner Reckoner

    ok

    Journal entry is a good idea

    Thanks

  • ROB PAYNE
    ROB PAYNE Member Posts: 34 Reckoner Reckoner

    Hey Lucas

    I am trying to see where the Payroll allocates the payments to the different accounts "Super Payable" and "Superannuation"

    I found the setting in the Payroll for the "superannuation"

    image.png

    But I cannot see where the "Super Payable" account is setup in the Payroll

    I thought it was associated with individual Super funds but cannot find where the account setup is for this …can you help

    Thanks

    ROB

  • Lucas
    Lucas Reckon Staff Posts: 310 Reckon Staff

    Hi @ROB PAYNE,

    Could you please take a screenshot of the account defaults in the general tab in settings for me, please?

    image.png

    My understanding is the same, that it is associated with an individual Super Fund, but I have asked a colleague for assistance on this for confirmation and I may need to test this for you in my book.

    But if you could get that screenshot to me, it would be appreciated.

    Thank you and speak soon.
    Lucas

  • Lucas
    Lucas Reckon Staff Posts: 310 Reckon Staff

    Hi @ROB PAYNE,

    I found out some information around this for you and hopefully it helps your situation.

    The Super Guarantee pay items, like all pay items, are assigned to a Ledger Account, as they are a cost to the business Reckon One includes a default account Payroll Expenses:Superannuation that can be used. So, all super guarantee amounts are listed as an expense and will impact on the Profit and Loss account.

    When a payrun is completed, the total Super Guarantee, and any other super payments (like Salary sacrifice), are assigned to the balance sheet account Payroll Liabilities:Super Payable. This is because this is an amount that will, at some stage, be forwarded to a 3rd party (the super fund).

    When that payment to the super fund is made the user needs to "clear the super payable account" to reflect that act through Day to Day > Make Payment. The Account needs to be changed from the usual Account Payable to Super Payable, and then the super funds will be visible in the Contacts field. You select a Super Fund and then in the Allocate tab you will see all uncleared entries of super items in the table. Select all the entries that are being forwarded to the super fund in this payment. Repeat this step for each Super Fund.

    When complete the Payroll Liability:Super Payable account will drop to 0.00 (or just the entries not yet forwarded to the Super Fund).

    If you need further clarification, please let me know and I will do my best to assist you.

    Thank you and speak soon.
    Lucas

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