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Payday Super payment timing

ChrisS24

I run my payroll two days before payment. l process the payroll on Monday to pay on Wednesday, when doing the payday super, I ask MYOB to pay on the Wednesday but MYOB takes the payment from the bank account on the day it was processed eg Monday. When I am on leave I process payroll and upload a bank file for the weekly payroll for the amount of time I am away to pay on future dates. When processing the super, MYOB withdraws from our bank account on the Monday, even when I asked to pay on the Wednesday. Is there going to be an automatic fix that when you process payroll that super is paid on the day payroll is paid or will you have to do this manually every week? It is not an option for me to log in and do this function while I am on leave. Am I missing something in the settings when paying super or is this functionality not available?

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Princess_R

Hi @ChrisS24,

Thanks for talking me through your process in detail. You’re not missing any settings here.

Super payments just work a bit differently to payroll, which you can future date. If you set up a super payment with a future date but authorise it today, it will still be processed and debited today. To stop it coming out early, you’ll need to manually process and authorise the super closer to the actual pay date. I know this isn't ideal for you, especially while you’re on leave, but there isn’t an automatic way around this .For more info, you can check this guide under the FAQs: Make superannuation payments.

Cheers,

Princess

All comments

BJ3

Yah need this because when a payday super is authorised after 4pm it sometimes processes same day and deducts from account and sometimes does it the next day. If you could just forward date one day there would be no issues with the bank rec.

Valle

I agree but this does not work in the Hospitality Industry where you have multiple casuals on different hours each week and paid weekly. Last week we paid super on the same day as wages and it is still showing as processing (no new employees and we are at Day 6, stressful!) MYOB are super slow and not helpful at all around this.

Isaiah_C

Hi @Sunny17,

I get why you're frustrated. For a small business where one person handles payroll, having to log in on the exact day just to stop the super payment coming out early is a real pain, and I can see how that would create cashflow and reconciliation issues too. If the super payment is authorised today, it will still be processed and debited today, even if a future date has been entered. That means the only current workaround is to authorise the payment closer to the actual pay date.

Regards,

Sai

Sunny17

MYOB this is just ridiculous. Small business here, only 1 person to process payroll so not an option always to sign in when on leave.

This is going to cause cashflow issues as well as reconciliation issues.

Pay Super gives an option to give a payment date, however if you put a future date in it totally ignores it and processes it on the day you authorise.

Why bother giving an option to put in a date if MYOB totally ignores it!

Not good enough MYOB!

KateB12

It may be that it is not in MYOB's interest to change this issue. If the money is paid immediately as soon as authorised, irrespective of the date the super is due to be paid, from the nominated bank account to SuperChoice P/L who manages the process on behalf of MYOB - they (MYOB or SuperChoice P/L) would have access to all of the moneys paid immediately and potentially the interest on the short term money market before it gets distributed to the superannuation accounts of our employees.

Genreve_S

Hi @kate17,

Thanks for sharing that extra context. I can understand why this is important, especially when one person handles payroll and needs to schedule things ahead while they’re away.

At the moment, payday super payments can’t be scheduled the same way payroll payments can. If the payment is authorised now, it’ll still be processed and debited now, even if a future date is entered.

For now, the practical option is to process and authorise the super payment closer to the actual pay date. If leave coverage is the main issue, another option is to have an additional Pay Super authoriser set up so someone else can process the payment at the right time while the usual payroll person is away.

We appreciate you calling out how this affects leave planning and cashflow, and can see why a scheduling option would be helpful here.

Also, posting on the Ideas Board would definitely help the dev team gauge interest on a feature like this.

Regards,

Genreve

kate17

Same issue - I schedule payroll payments all the time for future dates currently for two small business entities.

Typically, small businesses are likely to have only one payroll person to do payroll and they need to be able to take leave and therefore schedule payroll runs in their absence!

I agree that MYOB needs to provide the opportunity to schedule payday super payments to align with future scheduled payroll run dates (like scheduling normal bank payments).

Businesses will already be paying super earlier than under previous legislation (ie. previously quarterly), therefore having to pay super in advance of a scheduled payroll run pay date due to payroll officer leave is crazy! (cashflow...)

I look forward to MYOB providing a workable solution as this is essential to the smooth running of payroll scheduling and the associated super payments.

INTHEHILLS

This totally needs to be rectified ASAP. I process pays on 4 days out of the 5 for clients, meaning I have holidays over Christmas break three weeks, still have log in each day and process the pays, so super can be paid on time and not effect cash flow and be within ATO require timeframe. Myob you need to rethink this.

KateB12

This is definitely an issue that you cannot determine the day the superannuation is to be paid similar to the payment of payroll. This will impact with any pre processing of payroll and superannuation for periods such as Christmas closures etc. We have recently had the issue that our bank reconciliations are incorrect due to the super being paid immediately before the end of the month and the date of the payroll is later and even though the pay super has been processed it is dated the day that the wages were to be paid. I would have expected that the date the money is deducted from the bank in this process should reflect in MYOB accurately. Not happy.

XX2

Given that it takes around 5-6 days for a Super payment to hit the employee account it is prudent to pay them early rather than waiting until the actual pay day. If you don't pay early you run the risk of not complying with the Pay Day Super limit of 7 business days.

Optomist

ChrisS24, I agree the need to schedule super payments is essential, please add your support to this:

https://community.myob.com/idea/myob-business-ideasexchange/payday-super---being-able-to-choose-date-of-payment/910892