Super payments that predate Reckon One pay runs - reconciliation

Sarah Jane
Sarah Jane Member Posts: 38
edited July 2020 in Reckon One
I'm trying to reconcile starting from a few years ago, and I have a super payment that mostly predates the pay runs in the system.  What is the best way to deal with this, so I can get the reconciliation done? The awkward part of it is that the single payment covers one pay run, and the rest is prior to the Reckon One info.
Many thanks for any help with this!

Comments

  • kenl90
    kenl90 Member Posts: 55 ✭✭
    edited July 2020
    Hi Sarah... You need to go to Setting/Payroll Settings and select the YTD set up option.
    - Then select the 'Pays' tab
    - Select 'Add pays'
    - Add new row
    - Select the employee from the Drop Down
    - In 'Pay Item', select 'Super Guarantee'
    - Fill in the rest. The amount is the cumulative amount up to the next pay.

    When you create a new pay run, this YTD SGC amount will be added to this current pay.

    Hope this helps.
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
    Hi Sarah

    The part of the super payment that predates the start of the book needs to come in as an opening balance to the scg liability account - i.e super payment is $5000 ($1000 is super from one payrun in reckon file - $4000 predating the reckon file) - put $4000 in opening balance of the SCG liability account.  Then the rec will be correct, the $5000 payment will pay opening balance $4000 and $1000 for the first pay run.
  • Sarah Jane
    Sarah Jane Member Posts: 38
    edited August 2019
    Would that be the same as the "payroll liabilities" account please?
  • Sarah Jane
    Sarah Jane Member Posts: 38
    edited August 2019
    I don't have any info about these previous pay runs unfortunately they also predate the bank account transactions - wouldn't this mean that we then have paid more super than necessary according to the system? Just double checking!
    When I went to have a look under 'pay item' super guarantee didn't show up, just the actual super funds we use ?
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited September 2019
    yep !!!  anything you reconcile, super, PAYG - gst collected & paid if on accrual basis, bank accounts.
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited August 2019
    it is so far back you don't need any previous pay records, in this case, just make sure the first few months of the file do reconcile then the balance that it is short is what you need for an opening balance.  In this case work backwards. 

    All liabilities are not paid in the same month, qtr, year, they are usually paid 21st, 28th day of the following month, this is the same for EOFY, every file has payments in July paying June, in your case you didn't so you bring in what you need as opening balance
  • Sarah Jane
    Sarah Jane Member Posts: 38
    edited August 2019
    Oooh I think I see.  Thanks for answering back after hours <3!

  • Sarah Jane
    Sarah Jane Member Posts: 38
    edited August 2019
    Can you change the opening balance after you've run a bunch of pay runs though? We used it for STP so there's a super balance, and I'm trying to reconcile back to 2017.  Would you believe the amount I'm off is by only $144.30!
  • Sarah Jane
    Sarah Jane Member Posts: 38
    edited September 2019
    Just a bump in case someone sees this and can help.  I think even if we undid the reconciliations to the start of 2017 we would still have the issue of the postings to that account, so how could we change the opening balance if anyone knows please?
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited September 2019
    Hi Sarah

    Sorry been away and super busy with work & daughters wedding.

    you can change the opening balance, the opening balance relates to the liability account itself, not the payrun or STP, it is just that the opening balance of the account you are setting up.  

    The payrun deducts the super from the pay (expense) and puts it in the holding account (liability) waiting to pay later.  The STP reports on the super expense deducted from the pay, not the liability account.

    Just make sure via super reports that the current super since Reckon file was opened balances, in the liability reconciliation first, then the left over is your opening balance.

    Find the transaction that was the opening balance (or the account in chart of accounts if you entered the balance this way) and change the amount.