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Rachsg's avatar
Rachsg
Member
4 days ago
Solved

Superannuation

Hi, I am starting to pay myself super and just wanted help with what category I’d put this under? Thanks 

  • Jay-Solo's avatar
    Jay-Solo
    3 days ago

    Hey Rachsg​ - legendary! Thanks for getting back to me 🎸

    We were absolutely on the same brain cell highway, good to know we're on the right track! Hop on over to "More" > "Categories" > "All categories" in Solo, and you'll see a little + icon in the top right corner. 

    Once you tap the + icon, follow the prompts to create custom categories. Might even be worth creating two, so you can have one for outgoing funds and another for incoming (helps if you make any mistakes in transferring!). 

     

    We're not qualified to provide tax or financial advice, so I definitely recommend checking with your accountant and bookkeeper to see how it needs to be recorded (and avoid EOFY panic!), and then you can tweak as needed.

    Please let me know if you've got any other questions, I'll be here to help 🕺

3 Replies

  • Rachsg's avatar
    Rachsg
    Member
    4 days ago

    Thanks Jay, I’ve just transferred money out of my business bank acct to my super account and am wondering how to reflect this in my business acct ie which category to put it under? Just wanting to start paying myself super 😊

  • Jay-Solo's avatar
    Jay-Solo
    MYOB Staff
    4 days ago

    Hey there Rachsg​ - thanks for raising this one to us! 

    While Solo doesn't yet have inbuilt support for superannuation, I'd be more than happy to help with workarounds or methods to get the information you need onto the invoice! Can I ask a little more about the kind of information you need to reflect in Solo?

     

    You can create a custom category, and line item under "Products and Services", but it sounds like you might be after a method for showing the super details on an invoice (for work like subcontracting)?

    If you could let me know your dream state, as in, what you're looking to accomplish right now - I can help you on the other side. Looking forward to hearing from you soon! 🙏

  • Jay-Solo's avatar
    Jay-Solo
    MYOB Staff
    3 days ago

    Hey Rachsg​ - legendary! Thanks for getting back to me 🎸

    We were absolutely on the same brain cell highway, good to know we're on the right track! Hop on over to "More" > "Categories" > "All categories" in Solo, and you'll see a little + icon in the top right corner. 

    Once you tap the + icon, follow the prompts to create custom categories. Might even be worth creating two, so you can have one for outgoing funds and another for incoming (helps if you make any mistakes in transferring!). 

     

    We're not qualified to provide tax or financial advice, so I definitely recommend checking with your accountant and bookkeeper to see how it needs to be recorded (and avoid EOFY panic!), and then you can tweak as needed.

    Please let me know if you've got any other questions, I'll be here to help 🕺

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