Payroll App. Entering a Super Guarantee % that is greater than 100%

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KelY
KelY Member Posts: 3 ✭
edited January 3 in Reckon Payroll 🚀

Hi. For end of year figures, I'm paying bonus and super to my partner. The Super amount needs to like 400% of the income figure I'm putting in. I can only put in a max figure of 100%. Is there a way to override this automatic calculation? Thank you.

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  • swakhlu01 .
    swakhlu01 . Member Posts: 482 Payroll App Expert Payroll App Expert
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    @KelY My understanding is at this stage Reckon Payroll App does not support STP reporting of RESC (Reportable Employer Superannuation Contribution). There may be other Reckon products that allow that.

    The other alternative would be to seek advice from your tax accountant as the ATO provides other options for reporting superanuation payments that are not super guarantee amounts. Also keep in mind Reckon Payroll app will not calculate any superannuation amount if the monthly wage is under $450.

    Refer - https://www.ato.gov.au/Business/Super-for-employers/Setting-up-super-for-your-business/Identify-reportable-employer-super-contributions/How-to-report-reportable-super-contributions/

  • KelY
    KelY Member Posts: 3 ✭
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    @swakhlu01 . Thanks for your response and helpful link. As I understand it the ATO only care about the EOFY figures that are correct. Is it OK then to adjust previously submitted STP super amount, ie 2 or 3 of them with a higher amount so that the total then reported EOFY is correct?

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,427 Community Manager Community Manager
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    https://community.reckon.com/discussion/comment/20629533#Comment_20629533

    I would advise against doing that as previous pay runs should be accurate to what they were supposed to be in reality.

    An option you could look at is making an adjustment to the 'Initial Year to Date' balances within the employee profile to reflect the additional super that can't be added within the pay run.

    The updated balance in the initial YTD section will then be sent through in conjunction with your next successful pay run.

    Edit Initial YTD.gif


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  • KelY
    KelY Member Posts: 3 ✭
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    https://community.reckon.com/discussion/comment/20629534#Comment_20629534

    Hi Rav. I like your workaround. Thank you. I don't like to alter figures either that have been submitted correctly. I will try what you have suggested instead. Thanks again.

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