Forum Discussion

Aysh21's avatar
Aysh21
Experienced User
3 years ago
Solved

Self managed fund

I am paying an "employee" who owns the business a nominal wage per month.  I have to pay him superannuation into his self managed fund.  I keep getting a message when trying to do so - "This fund can...
  • Komal_S's avatar
    Komal_S
    3 years ago

    Hi Aysh21 


    This error can be fixed by setting up the SMSF fund again, assigning it to the employee card, and then processing pay super. Please follow the steps given below: 

    1. Create a New SMSF in Lists>Superannuation Funds.
    You will get a warning about the name existing, just add a number or letter to the end of the name.

    2. Assigned this new Super Fund to the Employee Card: Payroll Details>Superannuation.

    C. Try to process PaySuper again.


    Regarding your second query, we cannot provide ESA but please refer to this website for details on obtaining it. 

Komal_S's avatar
Komal_S
MYOB Moderator
3 years ago

Hi Aysh21 


This error can be fixed by setting up the SMSF fund again, assigning it to the employee card, and then processing pay super. Please follow the steps given below: 

1. Create a New SMSF in Lists>Superannuation Funds.
You will get a warning about the name existing, just add a number or letter to the end of the name.

2. Assigned this new Super Fund to the Employee Card: Payroll Details>Superannuation.

C. Try to process PaySuper again.


Regarding your second query, we cannot provide ESA but please refer to this website for details on obtaining it.