Forum Discussion

Member

2 months ago

Solved

Payday Super

We currently pay super monthly, and pay wages to staff either monthly or fortnightly. I've set up Pay Super, and just lodged my first monthly super payment though it today. I would like to start us...

Doreen_P
2 months ago
Hey AnnaCWP,

Really appreciate you sharing how you’re managing super at the moment and wanting to get familiar with Payday Super early. Payday Super works the same way as Pay Super. If you pay weekly, the super processes weekly. If you pay fortnightly or monthly, the super follows that same timing and it'll officially takes effect on July 1. You can also check this link for more info with Payday Super.

Cheers,

Doreen

Doreen_P

MYOB Moderator

2 months ago

Hey AnnaCWP,

Really appreciate you sharing how you’re managing super at the moment and wanting to get familiar with Payday Super early. Payday Super works the same way as Pay Super. If you pay weekly, the super processes weekly. If you pay fortnightly or monthly, the super follows that same timing and it'll officially takes effect on July 1. You can also check this link for more info with Payday Super.

Cheers,

Doreen

SB2084

Experienced Cover User

2 months ago

I have the same question as Anna, and the information provided in the link does not spell out how this actually happens. Currently we manually have to go into super payments and create and approve a super payment. Will any of this be automated with payday super or is this process the same? As with Anna we would like to start using payday super now on our smaller businesses to be ready with our larger payroll when this becomes compulsory. Thanks Sarah

Isaiah_C
MYOB Moderator
2 months ago
Hi SB2084,

Great question and love that you're getting ahead of the game by trialling this with your smaller businesses first. To clarify, it's the same process, no changes there in terms of creating and approving the super payment. You'll still need to go into Super Payments and process it as you normally would. The difference with Payday Super is when it's processed, instead of doing it quarterly like before, it'll now be processed after each pay run. So the timing changes, but the steps themselves stay the same. Just a heads up, Payday Super is set to start from 1 July 2026, so you've got a bit of time to get comfortable with it before it becomes compulsory.

Regards,
Sai
- SB2084
  Experienced Cover User
  2 months ago
  Thanks Sai, so just to clarify one more time, if we are already using pay super in MYOB, nothing changes with the new requirements, except how often we have to do the process? We need to update our procedures so that when a pay run takes place the staff member also does the pay super process? Sorry to repeat myself, but there has been such a fuss made about this coming in, I want to make sure I am not missing something.
  - Genreve_S
    MYOB Moderator
    2 months ago
    Hi SB2084,
    
    No worries, it's good to make sure you completely understand the update. To answer your question, yes, for you, Payday Super will mean using the same Pay Super process more often:
    
    Do your pay run as normal (fortnightly or monthly).
    
    Right after you pay wages, go into Pay Super and submit the super for that pay run instead of waiting to do it monthly.
    
    So you’re not changing any processes in AccountRight, you’re just lining up your Pay Super payments with each pay run, so you’re ready for the Payday Super rules.
    
    If you want more detail, this guide has a good overview of what’s changing:
    https://www.myob.com/au/resources/guides/payroll/payday-super
    
    Regards,
    Genreve