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Level 3

Why are Salary Sacrifice not showing in RESC?

 
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Best answer June 26, 2020

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Level 3

Why are Salary Sacrifice not showing in RESC?

Salary Sacrifice deductions are pre-tax deductions that are sent to a super fund. A common mistake made with these deductions is to set them as a "manual payment" instead of to a super fund.

As a result of assigning a "Salary Sacrifice" deduction to a "Manual payment" the system will not view this as a super deduction but instead as a basic pre-tax deduction that you take from the employees wages for an undisclosed reason outside of the system. Because it views it as an undisclosed deduction it won't be included in your RESC in STP.

Sometimes Manual Payment is selected because you do indeed pay that super manually to a fund. The same scenario applies however. If you wish to include these payments in RESC you must select a super fund. The correct details are usually best however in theory anything even a "fake" super fund will allow you to include the funds as RESC.

Please Note: If you are using Beam for automated Super Payments, you will need to manually exclude these contributions from your batch if you have manually paid it.

 

If you wish to "fix" your RESC please refer to this article: https://quickbooks.intuit.com/learn-support/en-au/help-articles/how-to-fix-resc-amounts/00/598363.

The idea behind this article to to identify where the manual payments are and then switch them over to a super fund. Once complete this will show correct RESC figures in STP and reports.

View solution in original post

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Level 3

Why are Salary Sacrifice not showing in RESC?

Salary Sacrifice deductions are pre-tax deductions that are sent to a super fund. A common mistake made with these deductions is to set them as a "manual payment" instead of to a super fund.

As a result of assigning a "Salary Sacrifice" deduction to a "Manual payment" the system will not view this as a super deduction but instead as a basic pre-tax deduction that you take from the employees wages for an undisclosed reason outside of the system. Because it views it as an undisclosed deduction it won't be included in your RESC in STP.

Sometimes Manual Payment is selected because you do indeed pay that super manually to a fund. The same scenario applies however. If you wish to include these payments in RESC you must select a super fund. The correct details are usually best however in theory anything even a "fake" super fund will allow you to include the funds as RESC.

Please Note: If you are using Beam for automated Super Payments, you will need to manually exclude these contributions from your batch if you have manually paid it.

 

If you wish to "fix" your RESC please refer to this article: https://quickbooks.intuit.com/learn-support/en-au/help-articles/how-to-fix-resc-amounts/00/598363.

The idea behind this article to to identify where the manual payments are and then switch them over to a super fund. Once complete this will show correct RESC figures in STP and reports.

View solution in original post