Another Payday Super question 😁

Question

MYOB/Accountright plus/Payroll/Pay Superannuation.  All employees show on screen. I Enter pay week. Tick boxes.  Record.  Then what?  Company details have been set up ie, bank account etc.  Do I still need to use my chosen clearing house to make contributions or does MYOB make the contributions on my behalf?

‘Thank you

Princess_R · Answer

Hi @NailEquip,

No worries! It really just comes down to how you’d like to manage it going forward. If you want to use the MYOB Pay Super feature, then yes, even if your first two Payday Super contributions were made through CBUS Super Clearing House. As long as your setup in MYOB is complete and correct, you can start using Pay Super for future contributions.

Make sure you don’t duplicate any payments during the changeover, and that future contributions are only processed through the method you want to keep using from here.

Cheers,

Princess

NailEquip · Answer

Hi Princess_R,

Thank you for replying.

As I was unsure how the MYOB payday Super worked I have made my first two employee contributions directly with CBUS Super Clearing House.  Am I able to use MYOB Clearing House instead (even though my first 2 payday contributions have been with another), or do I need to keep using my original clearing house?

Thanks for your patience in this matter.

Sharon

Princess_R · Answer

Hi NailEquip,

Yes, if you’re using Payday Super, you don’t need to also send the same contributions through your own clearing house. So once you record and authorise the payment in MYOB, clearing house will direct debit the funds from your nominated bank account and send the contributions through to the employee funds. For a bit more detail, check out this link.

Thanks as well for sharing your insights, @Edwina.

Cheers,

Princess