Categorise superannuation liability payment

1. If you are using Myaccountant's Payroll solution to process payroll

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If you are using Myaccountant's payroll solution, the super liability from each pay run is recorded as a business expense. The super liability is also recorded as accounts payable in the balance sheet as a liability.

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When the super liability payment appears in your bank account transactions, the super liability payment is categroised to accounts payable as follows:

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Select the super liability payment transaction, then click on the briefcase icon.

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1. In transaction type, select Add to Business Payment.
2. In category, select Accounts Payable.
3. Type should be automatically prefilled as Money Out. If not, please select Money Out.
4. Then click on Save.

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The payment will be recorded in Accounts payable.

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2. If you are not using Myaccountant's Payroll solution to process payroll

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If you are not using Myaccountant's payroll solution, then you will need to categorise the super liability payment as a business expense.

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1. In transaction type, select Add to Business Expense.
2. In category, select Superannuation.
3. Then, click on Save.

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The payment will be recorded as a business expense.

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