Now with increased penalties being proposed for late super, can MYOB please provide information on the date that the superannuation is received by the super fund as this is the critical date and is currently not visible by the Business Owner to even know if they have paid late.
Hi Tanya_Spence,
Thank you for your post.
Once your super payment reflects as 'Completed' in your manage payments window, this means the payment has successfully reached the respective funds. We recommend allowing 5-10 business days for the payment to process, however, it is usually only 5 business days.
If you have any further queries that I can assist with, please do let me know.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hi Sam,
Thank you for your response, however I think you are missing my point. The penalties are increasing for late super and the deadline is not the date the money has left the bank it is the date it is received and processed by the Super fund. The date listed in the Manage Payments window indicates the date it was created, not the date approved or the date completed. The date completed is the most critical date. I have clients that create the super batch but it does not get approved for a week or so and then as you have indicated "we recommend allowing 5-10 business days". That is a very broad number and if the payment is approved allowing 5 days from the deadline it is more than likely not going to complete by the deadline. There is actually no way to know.
So, to reiterate, I am requesting that MYOB show the actual DATE of completion as that seems to be the only thing that really matters from a compliance perspective. To provide more detail, I'd suggest 2 more date columns in the Manage Payments window, Date created (current date field), date approved/authorised and date completed. This gives total transparency to the business owner and us the Consultant's/Bookkeepers/ BAS Agents and Tax Agents. I think that this is critical information that the Business owner currently has absolutely no way of gaining.
Hi Tanya_Spence,
Whilst the software doesn't currently have the capability to show this, you can head to our Idea Exchange Board to put forward your suggestion to our developers for their review, and for others to vote on too.
If you have any further queries, please do reach out.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
