Paying superannuation

PerspectRec

We are not yet using pay super in MYOB but would like to hear from anyone using it how the entries appear in the super fund accounts.  We have a weekly payroll but pay super monthly, or sometimes quarterly depending on cash flow.  If we process super returns monthly, will we get 4 separate entries in our employee super account (one for each week).  It would be preferable if we could get one amount for the monthly total per employee.

 

Thanks.

Tracey_H

Hi @PerspectRec 

 

Thanks for your post. When you process the superannuation payment the AccountRight transaction is recorded. This transaction credits the total payment amount to the bank account for matching with the withdrawal. The Superannuation payable account is debited which clears the liability.

 

The contribution report is sent to SuperChoice who deduct the payment amount from your bank account, process and transfer the contributions to employee super funds.

 

Please let me know if you need further help.

 

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