Forum Discussion

Learoy's avatar
Learoy
Experienced Cover User
2 years ago

SMSF new Clearing House

We use MYOB Accountright and one of our employees has changed over to a SMSF.

 

When I went to update their payroll details it appears that I have to sign up to Pay Super & use MYOB's super clearing house just to enter their new fund.

 

I use the ATO SBCH for all other staff super funds whether they be a SMSF or not. Why do I now have to use MYOB's clearing house for one employee and continue as normal for the rest.  

 

This makes no sense to me & is frustrating.

 

Regards

Learoy

  • Doreen_P's avatar
    Doreen_P
    2 years ago

    Hi, Learoy 

     

    Thanks for your response.

     

    Using MYOB's clearing house is just an option. You can still use a different clearing house of your choice. However, in order to create a Self-Managed Super Fund within the system, you may need to sign up to Pay Super. In addition to that, without using the Pay Super service a Self-Managed Super Fund cannot be created as part of software limitation.

     

    If you will be using a different clearing house, make sure that when you create the Self-Managed Super Fund, please do not tick the box that says "Pay directly from AccountRight". 

     

    Please let me know if you require any further assistance with this.

     

    Best regards,

    Doreen

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    2 years ago

    Hi, Learoy 

     

    Thanks for your post.

     

    If a Self Managed Super Fund needs to be set up, you may need to sign up to Pay Super so that the option to create a Self Managed Super Fund will be available. To do this, kindly check The Help Article Set up superannuation funds for more information.

     

    Please let us know if you require any further assistance with this.

     

    Best regards,

    Doreen

    • Learoy's avatar
      Learoy
      Experienced Cover User
      2 years ago

      Hi Doreen,

       

      Thank you for your reply.

       

      Why should we have to use MYOB's clearing house ?

       

      The rest of our employees will go through our normal process via our bank and the ATO SBCH. Even those who have a SMSF. 

       

      Regards,

      Learoy

      • Doreen_P's avatar
        Doreen_P
        MYOB Moderator
        2 years ago

        Hi, Learoy 

         

        Thanks for your response.

         

        Using MYOB's clearing house is just an option. You can still use a different clearing house of your choice. However, in order to create a Self-Managed Super Fund within the system, you may need to sign up to Pay Super. In addition to that, without using the Pay Super service a Self-Managed Super Fund cannot be created as part of software limitation.

         

        If you will be using a different clearing house, make sure that when you create the Self-Managed Super Fund, please do not tick the box that says "Pay directly from AccountRight". 

         

        Please let me know if you require any further assistance with this.

         

        Best regards,

        Doreen

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