Wrong super payment reconciliation out

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  • Updated 1 week ago
Hi all In July my boss paid an employee's incorrect super amount. He didn't change it in the Clearing House as it was the first one he'd done in the new way through the business portal. So the super payment was underpaid by a small amount and therefore I can't reconcile for the July month. The amount we are out has been included in this month's super calculations and paid last week, so at the moment I know it balances out at 31 August.
My question is, do I reconcile the 31 July month? or do I leave it and do 2 months at 31 August? Has anyone else had this issue?
If I reconcile and it's the small amount out, do I just make sure it's the corresponding small amount in the 31 August reconciliation and it will balance itself out in the reconciliation account with a debit and a credit?
If I reconcile at 31 July, should I just let it go through and again at 31 August or should I do journal entries to cover it off for 31 July reconciliation, and then do the opposite of this again at 31 August? And if this is an option, what accounts should I use in the journalling so it only shows up as one entry per month?
I can't find anything in help to cover this or that anyone has posted before in the Community so if someone can advise me I would be very grateful!
thanks
Cyndy

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Cyndy Allison

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Posted 1 week ago

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