payday superannuation using MYOB
how long does MYOB take to actually make the payment to the super funds?
Forum Discussion
Hi Dlmad,
Once you've made the payment in MYOB, it usually takes around 5 business days for it to be authorised, processed, and land in the employee's super fund. That said, things like bank processing times or fund delays can sometimes slow it down a bit, so we recommend allowing up to 10 business days just to be safe. Here's a handy link with more info: Make superannuation payments. If it's been more than 10 business days and the payment still hasn't come through, best to jump onto our live chat support through our virtual assistant, MOCA, or submit a case via My Account so the team can take a closer look for you.
Regards,
Sai
I pay staff weekly (both permanent and casual staff) so how on earth can I allow 10 days for the payment to hit the employees' super accounts when the law says 7?
I am running Pay Super at the same time as running Payroll.
Hi Edwina,
I can understand why that feels worrying, especially when the timing is so tight.
The 7 business days is the legal requirement from payday. The earlier 10-business-day comment was referring to the full end-to-end process, not MYOB alone, as bank/direct debit timing and super fund processing can also add time after the payment is authorised.
Regards,
GenreveYes, I understand but I still can't pay Super prior to actually paying people. I'm not saying that the time in processing is entirely MYOB's fault as the money now seems to flow through several different doors prior to reaching the Super Funds but I can't possibly comply with what you're recommending - 10 days.
