Multiple superannuation funds for an employee
I have an employee who wants to put $200 into his current superannuation fund, then the balance into his self-managed super fund. I can see I can change his payroll card to just pay the $200, but how...
Forum Discussion
Hi TraceyMills,
Handling super setups like this can indeed be challenging. However, you can process both the SMSF payment and an additional super payment for a different fund. Here’s what you need to do:
- 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.
Regards,
Shella
Hi Shella,
Thanks for that, I didn't think it was straight forward 😊
So, do I accrue the two lots of super as separate mounts within the same employee card?
We pay weekly, so there is always at least 4 lots on each Super remittance.
And how does the system know how to report to the different funds, when you can only have one fund for each employee card?
If I sound a bit confused, that'd because I am 🤗
Thanks again,
Tracey
Hey TraceyMills,
Yes, you'll just need to pop the two separate super amounts into the same employee card. The extra bit will be treated as salary sacrifice, and here's a handy link on how to set that up. If you've already got the salary sacrifice category set up— no dramas! Once you've processed the pay run and you're ready to pay super, just jump into the employee card and swap the super fund to SMSF first. That way, the additional super goes exactly where it needs to.
Cheers,
Doreen
Hi Shella,
I'm still having problems with the set up of this additional fund.
I have set the fund up, but I can't seem to assign the fund to a payroll super category.
Is someone able to contact me directly to solve this problem, I'm getting very frustrated, so close but yet so far it seems. 😊
My thanks in advance,
Kindest regards,
Tracy
Hi TraceyMills,
Love your persistence and patience in sorting out your employee's super fund issue. From what I gather, you can't link two super funds to a single employee card directly. To handle super contributions to multiple funds for one employee, you'll need to set up a separate employee card for each fund. One card will be the primary for their payroll info and link to a super fund, while another card is for the additional superannuation info only. When payday comes around, the super for the primary card gets paid as usual. The payments for the other funds go into a "clearing" account first, then get distributed up to the other employee cards and their super funds.
I'd definitely suggest giving the ATO a buzz to double-check how they handle info from two different employee cards. It's super important to stay compliant and make sure everything's reported properly.
Cheers,
Princess
Thanks for that Princess,
Do you have the help line number, as, yes I definitely want to get it right and keep compliant.
Kindest regards,
Tracey
