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Superannuation adjustments for Cast under $450 per month & Extras over $450 per month

Introduction

This procedure is intended to help users adjust the superannuation reported via STP for Cast under $450 per month & Extras over $450 per month.

  1. Check your Superannuation. Superannuation provision account on the balance sheet needs to be reconciled before you can start the EOFY adjustments.
    1. Super payments recorded to the provision account should match with the Superannuation payments out of the bank / via the clearing house.
    1. If there is an outstanding balance, the balance needs to be cleared with the June Super lodgements.
  2. Take a backup.

Procedure:           

Overall, there are three general steps.

  1. Identify Cast under $450 per month & Extras over $450 per month.
  2. Adjust superannuation payments via payroll.
  3. Reconcile superannuation provision account on the balance sheet.

For any questions, please email Jenny Brooks jbrooks@moneypenny-group.com.

  • Go to “All employees” Tab. Click “Superannuation Report”
  • Choose either cast or extras and the relevant months. You need to run the reports for both cast and extras for all the relevant months.

CAST UNDER $450 per month

  • Based on the cast Superannuation reports. Make a list of the people with “Base Wages” under $450. Their Employer contribution amounts needs to be adjusted in step 7.

  • Go to “Cast” tab; Then “Pay Wages”

  • Choose “NonContract” and have the week ending date the last day of the month

  • Enter the Wages Code
  • Delete any default payment lines that shows up.
    • It should look like this:
  • Down the bottom you will see a new box called “Super Employer”. Contact mydaEs support if you do not see this box.
  • You will be entering in the “Total Contribs” amount into this box. Use the figures from Step 1 for each individual person.

Reminder that Cast under $450 adjustments will always be a negative amount in the cell.


  • Click “OK” and move on to the next person.
  • When finished, go back through Modify Wages and make sure that all amounts match to your super report.
  • Once completed – post and print off the GL code to double check that all is correct. 

EXTRAS OVER $450

  • Make a list of the people with “Base Wages” over $450.
  • Go to the Extras tab, then “pay wages”
  • Have the week ending date the last day of the month
  • Enter the Wages Code as normal
  • Delete any default payment items that shows up.
  • It should look like this:

Extras Over $450 will always be a positive amount in the cell.

  • Down the bottom you will see a new box called “Super Employer”
  • You will be entering in the “Total Contribs” amount into this box.

Extras Over $450 will always be a positive amount in the cell.

  • Click “OK” and move on to the next person.
  • When finished, go back through Modify Wages and make sure that all amounts match to your super report.
  • Once completed – post and print off the GL code to double check that all is correct.  +

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