Super Fund Changed Triples Calculation

ams88
Experienced Cover User
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Experienced Cover User
Australia
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Super Fund Changed Triples Calculation

Hi I'm wondering if anyone else has experienced this issue.

 

Changed an employees super funds (mid quarter), no issue there at all.

 

However when the first pay is processed after the change has occured the system calculates the super guarntee and triples it.  This has happened on more than one occaison so thought I would post this time. I know how to fix the incorrect amount, just annoying and shouldn't occur.

 

Also wondering if anyone else has had this issue?

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Steven_M
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MYOB Moderator
New Zealand
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Re: Super Fund Changed Triples Calculation

Hi @ams88 

 

How have you got your superannuation categories set up? The reason I ask this is that clients typically have two setups:

  • A superannuation category for superannuation fund i.e. Super Guarantee Fund # 1, Super Guarantee Fund #2...
  • One superannuation category for the superannuation guarantee that covers all employees and all funds with the fund information coming from the employee's card.

Assuming you have used the first method, with the multiple categories one for each super fund, when an employee does change "super funds/categories" the employee's superannuation calculation will be incorrect. This is due to the fact that superannuation is calculated on a monthly basis per superannuation category. So, if the employee is changing superannuation categories in AccountRight then it will be looking at the new superannuation category history. As there has been no history for that new category it will make an automatic adjustment to calculate superannuation for the calendar month for that new category, disregarding what has been paid in the past on that other superannuation category.

 

The ideal setup from a superannuation calculation point of view would be the second set up. This is where you have one superannuation category linked to all employees. With the superannuation fund being selected in the employee's card>>Payroll Details>>Superannuation - Superannuation Fund. This is the recommended way as the fund can change for the employee with the calculation not being impacted. As you have the superannuation history on a category level the superannuation will see that there is been no impact on the values processed through payroll thus no changes to the calculation.

Kind regards,
Steven

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ams88
Experienced Cover User
25 Posts
Experienced Cover User
Australia
Experienced Cover User

25Posts

5Kudos

0Solutions

Re: Super Fund Changed Triples Calculation

Hi Steven,

 

Thanks for the quick response.  That makes sense, I have them set up as per point 1. 

 

I've been using MYOB with SG set up like this for 17 years, so I think I'll just make a note to ensure I check this should an employee change funds and make the adjustment when I process the next pay.

 

Thanks for help 

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