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LydB64's avatar
LydB64
Experienced User
11 months ago
Solved

One off annual salary sacrifice

I have employees who annually(one lump sum payment per year) salary sacrifice to their super. 

What are the steps to entering  this transaction to payroll ? 

  • Leneth_A's avatar
    Leneth_A
    11 months ago

    Hi LydB64

     

    Thanks for the update on this.

     

    In this matter, the super guarantee is different from salary sacrifice that's why the amount entered in salary sacrifice is a minus figure. Superannuation guarantee is employer expense while salary sacrifice is from the employee.

     

    For superannuation guarantee the calculation should be 11%. Also, you would need to check if the employee was linked to a superannuation guarantee. For salary sacrifice, you will need to choose user selected amount to manually enter every transaction.

     

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

     

    Cheers,
    Leneth

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  • Leneth_A's avatar
    Leneth_A
    MYOB Moderator
    11 months ago

    Hi LydB64

     

    Thanks for your post and Welcome here in the Community Forum. I hope you find it a useful tool.

     

    Our article Set up salary sacrifice superannuation has instructions on how to do this within AccountRight.

     


    Please don't hesitate to post again if you need help in the future.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

     

    Cheers,
    Leneth

    • LydB64's avatar
      LydB64
      Experienced User
      11 months ago

      Thankyou

      i have followed those instructions. I'd like clarification in entering the payroll transaction. If it's a separate transaction to a regular pay, do I just enter the amount as minus figure  under salary sacrifice ? And when I scroll down,  the super guarantee amount shows 0.00 as in in its not calculating the super guarantee amount on the salary sacrifice as I presume it should 

      • Leneth_A's avatar
        Leneth_A
        MYOB Moderator
        11 months ago

        Hi LydB64

         

        Thanks for the update on this.

         

        In this matter, the super guarantee is different from salary sacrifice that's why the amount entered in salary sacrifice is a minus figure. Superannuation guarantee is employer expense while salary sacrifice is from the employee.

         

        For superannuation guarantee the calculation should be 11%. Also, you would need to check if the employee was linked to a superannuation guarantee. For salary sacrifice, you will need to choose user selected amount to manually enter every transaction.

         

         

        Please let me know if you need further help.

         

        If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

         

        Cheers,
        Leneth