Reconciliation | Find & Match - Payruns and superannuation payments
The purpose of this development would be to add the wages payable & superannuation payable entries to the Match, Find & Select menu. This would allow you to see the payrun for the week or superannuation processed by the program and match as appropriate.
The purpose of this development would be to allow users to see the payment and the actual information processed in Xero and potentially correct issues (e.g. reduce potential underpayment of superannuation/wages at point of reconciliation instead of months later).
Bradley Taylor
shared this idea
-
Optimus Fintech
commented
Here is another alternative choice to ease your reconciliation.
-
Annie Pearson
commented
This would be great. That said given what STP is now enforcing (I think a good thing) it is so important that super is paid on time. There are a few issues that really need enhancing 1) The current process if a superfund bounces a payment. a) the **** superfund should be notifiying us for starters or at least Xero. Currently it just turns up in the bank account with no indication of what it relates to and sooo easily reconciled as something else and it can be very delayed ie. months after the submission b) it really needs to automatically bounce back in to the AutoSuper list as unpaid - currently it just changes what shows as lodged amount with again no notification that anything has been unsuccessful, not to mention the time it can take to work through and identify who's exactly it was and then have to email Xero to request they reset it. We do need this whole process tightened up please there are huge fees and charges for late super and now with STP ATO will be on to it even if it's a day or so late. The other thing we really need to standardise is when there is a new employee that doesn't had a fund and either elects to go with the employer preferred or doesn't provide a fund and hence employer sets up employer preferred - this should be standard across all superfunds that we just need to enter 'NEW' or "NEW MEMBER" and that's it, obvious, done, dusted- I know it's probably the superfunds systems that are not up to it but they need to be so we need Xero to negotiate, push back, with funds but probably regulators/Govt whoever. Automated super reconciliation and the whole process needs some love and attention and revamp. please
-
Stacy McGrath
commented
This would be an extremely helpful tool