Forum Discussion

Fredman's avatar
Fredman
User
2 years ago

Superannuation clearance

Why does it take over a week for payments I make to employee superannuation to appear in each employees super accounts? It comes out of my business account on day 1 but doesn't appear in the employee superannuation account (including mine as I'm an employee) for 7 to 8 days?

 

Where is this money sitting and who is getting the benefit of it - MYOB????

2 Replies

Sort By
Replies have been turned off for this discussion
  • Yanike_S's avatar
    Yanike_S
    MYOB Moderator
    2 years ago

    Hi Fredman 

     

    Thanks for your post. It usually takes around five business days for superannuation payments to be authorised, processed and received by super funds. However, delays can occur (such as payments being rejected due to data errors), so we recommend allowing up to 10 business days for your payment to process.