Super Co contributions set up in Accountright

Amateur59
3 Posts
Cover User
Australia
Cover User

3Posts

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Super Co contributions set up in Accountright

hi 

I am using  Accountright  and using MYOB Superstream for my transfer to superfunds. Some of our employees are on  union EBA sites and we have to show a co contribution into super as well as the SG. How do I set it up so it is reflected correctly on the payslip so that superstream will allocate it correctly when paid  

1 REPLY 1
Steven_M
MYOB Moderator
40,166 Posts
MYOB Moderator
New Zealand
MYOB Moderator

40,166Posts

5,448Kudos

5,936Solutions

Re: Super Co contributions set up in Accountright

Hi @Amateur59 


Just reading about co-contribution for superannuation is seems like you just need to make a personal super contribution to a fund within the financial (this is in addition to other eligibility criteria). This does need to not be a salary sacrificing contribution, rather comes out of your after-tax amount.


My recommendation for setting that up would be to create a superannuation payroll category that has the contribution type to be a deduction i.e. Employee Additional (deduction). You would want to set the value to be a User-entered amount per pay period and tick the relevant employees in the Employee button. This will add a new payroll category on the employee's Pay Employee where you can enter the desired amount (as a negative)

Note: As superannuation in AccountRight is calculated before PAYG amount you may need to adjust the PAYG amount that is listed to ensure that you have the correctly calculated value in accordance with the ATO amounts. 

Kind regards,
Steven

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