Superannuation payment user guide

Sandra RichesSandra Riches Member Posts: 7
edited February 13 in Reckon One
I can only find a user guide for paying super through NAB Super Pay, not for a 'regular' super payment.  I have set up a pay run, super is allocated.  Then then bank account transactions show the payment.  So far so good.  If I want to allocate the payment, I can either choose the "super payable" option, or the "payroll payable" option.  If I choose super payable, I can't allocate the payment to a liabilities account.  If I choose "payroll payable" I can choose the correct liabilities account (according to my accountant), but then I can't allocate it to the super payments that are set up.... Hope that makes sense!

Comments

  • ShaneShane Reckon Staff Posts: 560
    edited February 13
    Hi Sandra,

    When you are paying your super funds you just choose the super payable account, the super fund, the bank account  you are paying from, and then on the allocated tab enter the amount you are paying against each line that shows up.  You don't select any liability account here.  You can assign your super pay item to an expense account though.  That expense account and the super payable accounts are the two accounts affected by super in the pay run.  See below screenshot.  
    image

    Regards,
    Shane.
  • Sandra RichesSandra Riches Member Posts: 7
    edited February 2017
    Hi Shane, thanks for that.  Looks like I have that part set up correctly.
    You refer to "You can assign your super pay item to an expense account though. " Do you mean when allocating a bank transaction?
  • ShaneShane Reckon Staff Posts: 560
    edited February 13
    Hi Sandra,

    Oh I forgot to say "in the settings".  Sorry about that.  So in your settings, payroll settings,  general, you can assign a default expense for company contributions (super), and also in the pay item setup you choose an expense account (which will  default to the one you used in your general settings but can be changed if you like).  

    In your payment to the super fund, you only use your bank account and super payable.  

    The way it works is when you do a pay run the super comes out of the super payable account (creating the liability), and to the expense account (so you can track it as a payroll expense).  Then when you enter your payment to the super fund, money will come out of your bank account and into the super payable account - which reduces your liability.

    Hope that clears things up.

    Regards,
    Shane.
  • Sandra RichesSandra Riches Member Posts: 7
    edited February 2017
    Thanks Shane, that cleared everything up!
    Sandra
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