Forum Discussion

Ayushmadaan's avatar
Ayushmadaan
Contributing User
9 months ago

How to split super contributions between two different super funds for one employee?

Hi MYOB Community, I need advice on a superannuation setup: One of our employees has an SMSF for their SG contributions but also wants an additional percentage (x%) paid into a retail/industry supe...
Doreen_P's avatar
Doreen_P
MYOB Moderator
9 months ago

Hey Ayushmadaan,

 

It can get a bit tricky with super setups like that. You can process both the SMSF payment and extra super payment for a different fund altogether. What you'll need to do is this:

 

  • When you're ready to pay the additional super from the Pay Superannuation window, just jump into the employee's card and swap the super fund to the retail/industry fund first. That way, the additional super gets paid to the right place. 

 

Bit of a manual step, but it'll keep your STP, payroll summaries and compliance nice and tidy. You can also check the links below for more info.

 

 

Cheers,

Doreen

CazzB's avatar
CazzB
Cover User
4 months ago

Doreen,

 

Does this mean you have to process super twice - once without the additional super (the bulk of super for the company) and then a second time just for the additional super?

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    4 months ago

    Hi CazzB,

     

    You’re right, that’s exactly it. You’ll need to process super twice in Pay super window. First, run the standard Super Guarantee to the usual fund, then do a second payment for the Additional super. Before the second payment, change the super fund link to the employee’s nominated fund. Always make sure each contribution is paid to the correct, assigned Super fund.

     

    Cheers,

    Princess

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