Forum Discussion

BMPP's avatar
BMPP
User
6 months ago

superannuation Rate set to minimum r

Just found out today from accountant that MYOB was using wrong super rate since 1 July 22. As soon as I found out I went into Payroll Categories- Superannuation. The Minimum Required Rate option was ...
Bullswool's avatar
Bullswool
Trusted User
6 months ago

Oh wow, this is bad. What payroll system are you using?

  • BMPP's avatar
    BMPP
    User
    6 months ago

    It is bad. AccountRight. Although the Minimum Required option was ticked, I am worried I had to save it by clicking on OK back in July 22. 
    It's working now after I unticked it and re-ticked it and pressed ok.

    Had just assumed it was all automatic as it had been in the past 17 years I had been using MYOB. 

    • Genreve_S's avatar
      Genreve_S
      MYOB Moderator
      5 months ago

      Hi BMPP, 

       

      Thank you for your post and a warm welcome to the Community Forum. Apologies for the delay in response.

       

      I understand your concern regarding the superannuation rates. As per my knowledge, the application is designed to automatically update the superannuation rates to align with the current values. From your previous message, it appears there was a misunderstanding about the superannuation rate not being updated to 11% on 1st of July 2022. However, the change in superannuation rate to 11% took effect from 1st of July 2023. I would suggest referring to the Superannuation article for more clarity on this matter.

       

      If my response does not fully address your query, please feel free to provide more details about your concern. We are here to assist you further.

       

      Thanks,
      Genreve

      • BMPP's avatar
        BMPP
        User
        5 months ago

        You have misunderstood me...The Minimum Required Rate option was I believe introduced in a July 22 update to MYOB.

        Even though that option was ticked on our file, MYOB only paid 10 per cent (not 10.5) until 1 July 23. It also didn't update on 1 July 23 - it stayed at 10 per cent.

        i wasn't until I un-ticked that option last week (after speaking to the accountant)  and then ticked it again and pressed OK did it update correctly. Facing massive inconvenience, extra charges and interest not to mention accounting fees and want to know why when the Minimum Required Rate was ticked it didn't work.

        All I was asking was should I have opened up the Superannuation section and clicked OK for that ticked option back in July 22 ???? Can't get a human to speak to.. have to resort to this forum. The expense and cost of this failure is not insignificant. It would be nice if someone would try to understand what I am asking. Now will not  blindly rely in MYOB - using a calculator.