You can reverse an entire super payment (batch) transaction in MYOB only if the batch payment has one of these statuses:
Payment failed
Pending authorisation
Partially authorised
Payment cancelled
Check the payment status via Payroll > Super payments.
Individual super contributions cannot be reversed
You can only reverse a whole super payment – not an individual contribution within the payment.
If an individual super contribution has been returned from a super fund, see Returned super contributions.
More about fixing failed super payments
Reversing a super payment reverses each contribution
Reversing a Pay Super transaction reverses each of the contributions within the transaction. The reversed contributions are then returned to the Create super payment screen with your other unpaid super contributions.
You can then fix whatever caused the payment to need reversing, then reprocess the payment.
Reversing a super payment does not change any of your employees' pays. Your actual bank account and employees' super funds will not be affected.
If you've paid an employee the wrong super amount, find out how to adjust the employee's super.
To reverse a super payment
Go to the Payroll menu and choose Super payments.
If prompted, log in with your MYOB account details.
Click the payment to be reversed. The contributions within the payment will be listed.
Confirm the details of the payment you're about to reverse.
Click Reverse payment.
At the confirmation, click Reverse payment.
The super payment will be shown with negative values for the contributions.
Click Record reversal. The payment is reversed and is now listed with the status Reversal Completed.
The entire Pay Super transaction is reversed. Each of the contributions within the transaction are returned to the Create super payment screen, ready for reprocessing. Make sure to fix whatever caused you to reverse the payment before reprocessing the contributions.
FAQs
How does this affect my bank feeds and reconciliation?
Reconciling your bank account might seem tricky after completing the above tasks, because the resulting transactions in your bank account won't appear to match the transactions in MYOB. However, the total credits and debits will balance.
You can simply match all the paid Pay Super transactions (not any unpaid or returned contributions) in your bank account to the super contributions in MYOB, then mark them as reconciled. Also mark as reconciled the Pay Super reversal transaction that you created following the steps above. The reconciled transactions will equal the total of the original Pay Super transaction.
You can reverse an entire super payment (batch) transaction in AccountRight only if the batch payment has one of these statuses:
Payment Failed
Pending Authorisation
Partially Authorised
Payment Cancelled
Check the status of super payments via Payroll > Manage Payments.
Individual super contributions cannot be reversed
You can only reverse a whole super payment – not an individual contribution within the payment.
If an individual super contribution has been returned from a super fund, see Returned super contributions.
More about fixing failed super payments
Reversing a super payment reverses each contribution
Reversing a Pay Super transaction reverses each of the contributions within the transaction. The reversed contributions are then returned to the Pay Superannuation window with your other unpaid super contributions.
You can then fix whatever caused the payment to need reversing, then reprocess the payment.
Reversing a super payment does not change any of your employees' pays. Your actual bank account and employees' super funds will not be affected.
If you've paid an employee the wrong super amount, find out how to adjust the employee's super.
To reverse a super payment
Go to the Payroll command centre and click Manage Payments.
Click the zoom arrow to open the entire Pay Super transaction to be reversed.
Go to the Edit menu and choose Reverse Pay Superannuation.
Click OK to the confirmation message.
Set the Date to when the payment was returned to your bank account.
Click Record Reversal.
The entire Pay Super transaction is reversed. Each of the contributions within the transaction are returned to the Pay Superannuation window, ready for reprocessing. Make sure to fix whatever caused you to reverse the payment before reprocessing the contributions.
FAQs
How does this affect my bank feeds and reconciliation?
Reconciling your bank account might seem tricky after completing the above tasks, because the resulting transactions in your bank account won't appear to match the transactions in AccountRight. However, the total credits and debits will balance.
If you reconcile using bank feeds | You'll just need to hide the bank feed transactions for the returned/unpaid super contributions and reconcile the transactions the same way you would if using a bank statement (see below). |
If you reconcile using a bank statement | Match all the paid Pay Super transactions (not any unpaid or returned contributions) on your bank statement to the super contributions in AccountRight, then mark them as reconciled. Also mark as reconciled the Pay Super reversal and Pay Liabilities transactions that you created following the steps above. The reconciled transactions will equal the total of the original Pay Super transaction. |