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AnnaCWP's avatar
AnnaCWP
Member
3 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 using Payday Super from the 1st March, so we can get used to it.  Is the process of using Payday Super the same as Pay Super, just done at the same time as paying wages?  I've looked through the information, but haven't been able to figure out exactly how it will work.  Thank you!

  • Doreen_P's avatar
    Doreen_P
    3 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

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  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    3 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's avatar
    SB2084
    Experienced Cover User
    3 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

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    3 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

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