Changing Super Fund Type

[CIS-CL]

Hi,

I've just upgraded from Account Right v19.2 to V2019.2.1. One of the SMF super funds is shown as APRA regulated rather than Self Managed inthe Type field. I can't edit the Type field as it's greyed out. I can't delete fund as it says "Payment has been made to this fund".

I can set up a new SMF fund with similar fund name but wouldn't this be different to the SMSF of existing fund I've been using for this staff member?

How do I change the type from "APRA regulated" to SMF when the field is greyed out?

[Neil_M]

Hi @CIS-CL 

If the Fund type field is greyed out, the contents of that field cannot be changed. Instead if the fund needed to be an SMSF rather than an APRA regulated fund, a new fund will need to be created with the correct details

[CIS-CL]

If I set up a new SMSF , I would need to tag the employee to the new SMSF created. 

When I process the next payrun, it will show 2 super fund names ie. both the old SMSF name and new SMSF name on the payslip as if the employee has changed Super Fund when in fact they haven't changed super fund. 

Why is the Fund type field greyed out and defaults to APRA when it is a SMSF and not an APRA-regulated fund? 

I'm reluctant to set up a new SMSF because the payslip and  Superannuation Accrual reports will look messy with 2 lines of super funds as if the employee had changed superannuation fund.

Is MYOB technical staff able to change the Fund Type from APRA to SMSF on the existing fund for me ?

[Neil_M · Accepted solution]

HI @CIS-CL 

In some cases if the fund was not set as an SMSF in AccountRight v19 then when the file is upgraded the fund can revert to an APRA regulated fund. This cannot be overwritten if the fund type is greyed out and as such if it is incorrect a new fund will need to be created.

Changing the fund the employee uses through their card will not impact the payslip beyond updating the fund. It wouldn’t show both the old and new fund names. If you have setup a superannuation guarantee payroll category specifically named for the employees SMSF this will not be impacted by changing the super fund on the employees card