Setting up SMSF

[Old1fan]

I wish to set up a self managed super fund in AccountRight 2019 but because we use an alternative superannuation clearing house, we don't want to register for Pay Super.

Can this be done, and if so how?

[Theresa_D]

Hi @Old1fan 

Thanks for your post. I hope you're finding plenty of useful tips, advice and support on the community forum. 

If you're not using Pay Super, you'll need to use the Pay Liabilities window to record your payment, then pay the funds using a different SuperStream compliant solution. I will link the following resources below to assist you with the setup in AccountRight

Set up superannuation funds --see section 'to add a smsf' 

Superannuation

Make superannuation payments

Checking and adjusting superannuation

Let me know if you need more information. If this answers your post please mark 'Accept as Solution' to help other users find this post easier. 

[Old1fan]

I got through to these links previously but they insinuate that I have to register for Pay Super to be able to set up a fund.

I find this unacceptable when all I want to do is nominate an employee’s SMSF to pay into and can’t seem to find a way around it.

I currently pay super contributions using Pay Liabilities and due to group policies, cannot process direct from MYOB.

[Theresa_D · Accepted solution]

Hi @Old1fan 

You do not have to register for Pay Super.  You can set up the SMSF by going into List >> Superannuation Funds >> New >> Untick 'Pay from AccountRight' >> Put title but no other info >> Click okay.  This SMSF will then be available in the list.  Note that you will not be able to set up bank account details with this. 

I hope this clarifies. If this answers your post please mark 'Accept as Solution' to help other users find this post easier.