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Old1fan's avatar
Old1fan
User
5 years ago
Solved

Setting up SMSF

I wish to set up a self managed super fund in AccountRight 2019 but because we use an alternative superannuation clearing house, we don't want to register for Pay Super.

 

Can this be done, and if so how?

  • Theresa_D's avatar
    Theresa_D
    5 years ago

    Hi Old1fan 

     

    You do not have to register for Pay Super.  You can set up the SMSF by going into List >> Superannuation Funds >> New >> Untick 'Pay from AccountRight' >> Put title but no other info >> Click okay.  This SMSF will then be available in the list.  Note that you will not be able to set up bank account details with this. 

     

    I hope this clarifies. If this answers your post please mark 'Accept as Solution' to help other users find this post easier. 

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  • Theresa_D's avatar
    Theresa_D
    Former Staff
    5 years ago

    Hi Old1fan 

     

    Thanks for your post. I hope you're finding plenty of useful tips, advice and support on the community forum. 

     

    If you're not using Pay Super, you'll need to use the Pay Liabilities window to record your payment, then pay the funds using a different SuperStream compliant solution. I will link the following resources below to assist you with the setup in AccountRight

    Set up superannuation funds --see section 'to add a smsf' 

    Superannuation

    Make superannuation payments

    Checking and adjusting superannuation

     

    Let me know if you need more information. If this answers your post please mark 'Accept as Solution' to help other users find this post easier. 

    • Old1fan's avatar
      Old1fan
      User
      5 years ago

      I got through to these links previously but they insinuate that I have to register for Pay Super to be able to set up a fund.

      I find this unacceptable when all I want to do is nominate an employee’s SMSF to pay into and can’t seem to find a way around it.

      I currently pay super contributions using Pay Liabilities and due to group policies, cannot process direct from MYOB.

      • Theresa_D's avatar
        Theresa_D
        Former Staff
        5 years ago

        Hi Old1fan 

         

        You do not have to register for Pay Super.  You can set up the SMSF by going into List >> Superannuation Funds >> New >> Untick 'Pay from AccountRight' >> Put title but no other info >> Click okay.  This SMSF will then be available in the list.  Note that you will not be able to set up bank account details with this. 

         

        I hope this clarifies. If this answers your post please mark 'Accept as Solution' to help other users find this post easier.