employee super contibutions

Experienced Cover User STONE
106 Posts
Experienced Cover User
Australia
STONE
Experienced Cover User

106Posts

5Kudos

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employee super contibutions

Hi ,  I want to set up one employee, who requested to make  extra  pretax  super  contributions  from his  pay.

I see  , i have a  category  allready  set up under  payroll.   When  i  click into this, i have  set up the amount, per  pay  he wants to pay, and  added  Employee name in settings.

 

But , its  linked  account  is  set up as   GL  2-1411  Super  Liability.

All the other super  company  categories, have two linked  accounts.  1-  the super liablity, and  2-  the  Super  expense  account.  6-5151. 

Do  i also  need to  fix   the  new  Employee Addtional category, to be the same ?

thanks

Stone

5 REPLIES
Super Partner GDay53
454 Posts
Super Partner
Australia
GDay53
Super Partner

454Posts

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Re: employee super contibutions

@STONE

 

As this is a R.E.S.C amount (https://www.ato.gov.au/Business/Super-for-employers/In-detail/Salary-sacrifice/Reportable-employer-s...) you need to have it linked to a seperate account than the normal Super G'Tee amounts.

Also is it just additional super or salary sacrifice? There is a big difference in that the additional does not effect your PAYG where as the salary sacrifice does.

There are some very good support note on this - check these out;

http://help.myob.com/wiki/display/ar/Set+up+salary+sacrifice+superannuation?intcid=support:help:sala...

http://help.myob.com/wiki/display/ar/Additional+superannuation+contributions

Graeme Day
Registered BAS Agent #24745540
First Class Accounts Clayfield
MYOB Certified Consultant
MYOB Diamond Partner
Experienced Cover User STONE
106 Posts
Experienced Cover User
Australia
STONE
Experienced Cover User

106Posts

5Kudos

1Solutions

Re: employee super contibutions

Hi,  thanks for  notes. I have read those.   still  little lost.  When  I pay the Super  at end of  month.  I  need  to  seprate the 9.5%, and  the  Salary Sacrifice  i  just  set  up.  How does the  MYOB  portal  work this  out, and place in CSV  file correctly ?

 

many thanks

Stone

Experienced Cover User STONE
106 Posts
Experienced Cover User
Australia
STONE
Experienced Cover User

106Posts

5Kudos

1Solutions

Re: employee super contibutions

hi,  i have read  those notes.  but  my  question is  not  answered  there  ??   its  Sal Sacrifice. ( not additional)

----------------------

 

Hi,  thanks for  notes. I have read those.   still  little lost.  When  I pay the Super  at end of  month.  I  need  to  seprate the 9.5%, and  the  Salary Sacrifice  i  just  set  up.  How does the  MYOB  portal  work this  out, and place in CSV  file correctly ?

 

thank you. Stone

Experienced Cover User STONE
106 Posts
Experienced Cover User
Australia
STONE
Experienced Cover User

106Posts

5Kudos

1Solutions

Re: employee super contibutions

Hi ,  I want to set up one employee, who requested to make  extra  pretax  super  contributions  from his  pay.

I see  , i have a  category  allready  set up under  payroll.   When  i  click into this, i have  set up the amount, per  pay  he wants to pay, and  added  Employee name in settings.

 

But , its  linked  account  is  set up as   GL  2-1411  Super  Liability.

All the other super  company  categories, have two linked  accounts.  1-  the super liablity, and  2-  the  Super  expense  account.  6-5151.    have i missed  a  step  ??  

Do  i also  need to  fix   the  new  Employee Addtional category, to be the same ?

thanks

Stone

MYOB Moderator CloverQ
6,332 Posts
MYOB Moderator
Australia
CloverQ
MYOB Moderator

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1022Solutions

Re: employee super contibutions

Hi @STONE,

 

As long as you are using the correct superannuation category/type to record the salary sacrifice, MYOB Super Portal will be able to tell the salary sacrifice apart from the standard Superannuation Guarantee. 

Capture.PNG

 

When you go to Payroll > Payroll Categories > Superannuation, it would have a system Salary Sacrifice account already created. You can simply use this category, or create your own. 

 

It is correct that Salary Sacrifice superannuation category only has one linked account. It doesn't need a linked expense account because this is not an additional cost to the company. The money is coming out of employee's salary, which has already hit your expense account as wage. 

 

I hope this helps. 


Kind regards,
Clover
MYOB Client Support
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