Superannuation Reversal - AccountRight
Hi Community,
I have some issue with my super for February -(paid 16/3/22) as MYOB Manage Payments has a status of "Reversal Required". I havent reversed a whole Super Payment before so want to ensure nothing else will be affected.
At the moment the amount of the super I attempted to pay last week is sitting in the bank register as though it has been debited from my bank account There is no withdrawal in the bank account so I am out in my reconciliation by this amount. I am guessing when I reverse the Super, the bank reconciliation will balance and I reprocess as per normal? Also when I reverse it, will the payments required re-appear in the PAY SUPER correctly for Feb which I was originally paying. Thank you in advance for your help.
Hi Kimmy12345
You are on the correct track, once the Pay Superannuation transaction is reversed, all the associated super contributions will re-appear in the Pay Superannuation window, where you can tick and re-process them.
Since your bank account wasn't actually charged of the initial super payment, you don't have to worry about dealing with full/partial refunds. In AccountRight the initial Pay Super transaction and the reversal will cancel each other out, leaving the new Pay Super transactions to be reconciled with the actual charge on your bank account.
If you haven't already, I'd suggest checking out this Help page on the topic of Reversing and reprocessing superannuation payments for a detailed run through, your situation is simpler as there's no actual returned super payments.
I hope this helps. If you have any further questions please feel free to let us know.