Forum Discussion

JPS_Perth's avatar
JPS_Perth
Contributing Cover User
8 days ago

IAS online miscalculating

So part way through the month one of our staff decided he wanted to salary sacrifice to his super.  This was something we were already doing for another employee so was fairly simple to set up.  Had to create a new category as the payment was different so copied most of the details from the existing entry.

Come the end of the month and inspite of all the reports looking correct MYOB hadnt deducted the salary sacrificed funds for the new category.  I had to manually adjust the total in the IAS to lodge it.

 

Which report do I need to produce so I can see how MYOB online calculates the W1 figure?  Or is there some other way for me to check it?

 

The category summary has the correct "Wages" and "Superannuation Deductions Before Tax" figures, so I can clearly see this part is correct.  I hit the Update from ledger button and it didnt make any difference.

 

Payroll Category Summary

Wages         $13490

Super Deductions Before Tax

    Salsacrifice 8%     $319.20

    Salsacrifice fixed  $100.00

    Total                     $419.20

 

$13,490-$419.20 = $13,070.80

 

Figure at W1 on IAS online was $13170

 

I won't know until I get to the end of this month if the problem will repeat or if it has solved itself miraculously.  Suggestions please?

 

 

 

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    6 days ago

    Hi JPS_Perth,

     

    Making sure that the values in the IAS is crucial to a business process. To determine how MYOB calculates the W1 figures, you should use the "GST Return Report." This report provides the necessary details and calculations that contribute to the W1 label, which represents the total salary, wages, and other payments.

     

    Here are the steps to access the relevant report:

    1. Go to Reporting in MYOB.
    2. Select Reports.
    3. Choose the GST Return Report.

    This report will show the workings for the final figures, including the W1 label. If there are any discrepancies or adjustments needed, you can manually update the figures based on this report.

     

    Additionally, if you are using MYOB Practice, you can import the figures directly from the ledger, which will pull the rounded figures from the GST Return Report in the client’s file. This ensures that the W1 figures are accurately reflected in your BAS (Business Activity Statement).

     

    Thanks,

    Genreve