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Cheforce's avatar
Cheforce
Contributing Cover User
2 years ago

Split Superannuation Payments

Hi. 

 

Does MYOB AccountRight have the capabilities to split a weekly Superannuation contribution into two seperate super companies per one employee?

For example if one employee is due $50 total super for one week, can we split it to have $25 go into one super company account and $25 go into a different super company account?

 

The employee has a self managed super account but wants to keep their current insurance in tact with their previous super company, therefore they need to be showing regular payments into their previous super company account and still grow their self managed account. 

 

Thank you

superannuation

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  • Sean_DC's avatar
    Sean_DC
    MYOB Moderator
    2 years ago

    Hi Cheforce 

     

    Thank you for your post.

    If an employee wants super paid into multiple funds, they'll need multiple employee cards. This is because you can only assign one super fund to an employee's card. You will have to set up one primary card for their payroll information, and this card is linked to one super fund. 

     

    For additional super funds, a new employee card is needed to store the fund information. When the employee is paid, the fund linked to their primary card is paid as normal. The payments for the additional funds are temporarily held in a "clearing" account, then distributed to the other employee cards and their associated super funds. 

     

    I've attached a reference article that is for our AccountRight product range but will give you an idea of how it works: Employees with multiple super funds

     

    In terms of STP reporting, it would be best to check with ATO on how they will accept the information from two different cards. 

     

    Please feel free to post again. I'm happy to assist further.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users to find this information.