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June 2019
June 2019
Using Accountright 19.1 or 2. An accountant at our request changed the super contribution for one employee to 15% in November last year. Unfortunately it doesn't differentiate between the Super Guarantee and the extra so how do I link the category in Reportable Employer Super in Payment Summary set up? I assume any Super above the 9.5 is reportable. Thank you
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June 2019
June 2019
Welcome to the MYOB Community Forum, I hope you find plenty of useful information.
Yes if the employee has a say in the added super it is RESC.
If the % raise was done by the employer and all employees received it no it is normal super G'Tee.
For it to be reported seperately as RESC you must first setup the extra % as a Salary Sacrfice Super and track it seperatley in a Liability account.
If the % only was changed then you will need to manually go back over every pay and calculate the difference in super amounts then do a journal move it into a new RESC liability account make sure you make plenty of notes to explain it. You will also have to manually enter the amount on the payment summaries.
June 2019
June 2019
Thank you for the information - if only one employee received it after a discussion with employer about extra super payments as in the Barefoot Investor book and the employer said we will pay you 15% is that still classed as Salary Sacrifice?
June 2019
June 2019
Yes it is as the employee had the discussion with the employer.
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