Question: I notice that the Reconciliation sheet adds back unpaid superannuation from the balance sheet; I have processed the super for June but the amount hasn’t been taken out of my super clearing account yet so it looks like I can’t claim super for June as an expense and it gets adjusted on the Tax Reconciliation sheet, is that what is happening?. it’s a payable, a liability in the balance sheet  it has been expensed to the P and Loss.

So its in the books as an expense for the year ending today


Answer: Superannuation showing in the reconciliation is a payable and not an expense because it was paid after 30 June. Since entry for this is Dr-Superannuation Expense and Cr-Superannuation Payable, there must be an expense showing in the Profit &Loss section.

If you don't want this $1,301 to appear in reconciliation section, this amount should be paid up today. Or you may adjust this account to be nil from the accounting software and reimport again.