How to process a refund from a Super fund?

Options
MM_7769277
MM_7769277 Member Posts: 115 ✭
edited August 2019 in Accounts Hosted
Hi all,

Our super clearing house returned an employee's payment to us because the member exited the fund and didn't tell us.

How do I process this adjustment?

I started to do a GJ entry (DR Bank / CR Superannuation Payable) but Reckon told me that GJ entries do not affect Payroll Liabilities and to use the Adjust Payroll Liabilities function in the Employees menu instead.

Then I went to Adjust Payroll Liabilities and selected her super fund. Reckon then told me:

"You have chosen a payroll item that cannot be adjusted. You can only adjust tax payroll items."

Help!

Thanks in advance!

MM

Comments

  • MM_7769277
    MM_7769277 Member Posts: 115 ✭
    edited January 2017
    Options
    Hi Kevin,

    The Make Deposits screen only shows Bank, Accounts Receivable and Other Current Asset accounts. How do I get around this?

    Thanks
    MM

  • MM_7769277
    MM_7769277 Member Posts: 115 ✭
    edited January 2017
    Options
    "The deposit is to the bank and it goes back to liabilities."

    I'm sorry, but this doesn't make any sense.

    And, I understand double-entry accounting. I have my Cert IV.

  • smls finance
    smls finance Member Posts: 3 ✭
    edited August 2019
    Options
    Hello,

    A belated input, but good for future reference.

    I had the same situation, super payment went to the old/wrong Super fund and got refunded by the clearing house the next month.

    Here's what I did:

    1. Record Deposit: (From Account: Specific Payroll Liability - Superannuation ) Supplier is the clearing house.
    2. Enter a Bill: Pay to clearing house.
    3. Create a specific contribution for this repayment in the clearing house.
    4. Lodge & pay this contribution.

    I hope this helps!
    Ta,
  • smls finance
    smls finance Member Posts: 3 ✭
    edited October 2017
    Options
    Hi Kevin,

    Thank you for the comment. I believe I have to as I received a refund. Otherwise my books and the bank won't reconcile. Happy to hear more comment/correction.

    Ta,

Categories