Super adjust to RESC

How do I use an unscheduled pay run to reallocate SCG to RESC as a year end adjustment.

A directors wage was reallocated to drawings.

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    How many pay runs are affected?

  • Nicolespice
    Nicolespice Member Posts: 4

    Over half of the year, i have read many posts that say you can do a once off year end adjustment.

    None of them give instructions though, and you can not put a negative amount in the SGC field.

  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited July 2021

    I don’t know of that procedure which is why I wondered how many pay runs are involved, and if there were too many to manually change. If you have processed wages you would have also had a PAYG component and paid on BAS maybe. How will you deal with that?

  • Nicolespice
    Nicolespice Member Posts: 4

    I will leave the PAYGW as it is.

    I have already adjusted the gross wages down by 30K, but to be correct, the extra super above 9.5% should be RESC.

  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Yes that’s correct, is there anyway you can adjust it in the most recent pays until you reach the required amount

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    I’d suggest editing via the “Enter YTD …” option (under Employees dropdown menu) then submitting an STP Update Event

    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 *

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    (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!)
  • Nicolespice
    Nicolespice Member Posts: 4

    I did the YTD adjustment but it did not change the super RESC.

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited July 2021

    🤔 Did you minus out the RESC Payroll Item?

    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

    shaz@accounted4.com.au

    https://accounted4.com.au

    (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!)