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Take the stress out of managing your Superannuation obligations with MYOB Pay Superannuation.
There are many good reasons why businesses should be taking advantage of a fully integrated online accounting and payroll system, such as MYOB AccountRight Live, or upgrading their old AccountRight Classic files to AccountRight Live.
One of my favourite features is Pay Superannuation - seamless, easy to use, and SuperStream compliant. From 30 June 2016 it is mandatory for all employers to be SuperStream compliant. Luckily MYOB have made it easy for you.
The setup is seamless and is a very cost effective solution for your business. MYOB Pay Superannuation comes with no extra costs to you if you have an active MYOB subscription. Better yet, it saves you time in administration. For example, it used to take one of my clients 10 hours to process their superannuation for over 70 staff with 31 providers. With Pay Superannuation, it only takes them 30 minutes max. $350 savings right there, not to mention the relief of the accounts person who used to dread the monthly superannuation deadline!
As a plus, you don’t have to have your AccountRight Live file in the cloud to take advantage of the Pay Superannuation feature. So long as you have an active AccountRight Live subscription, you can use the Pay Superannuation feature in the cloud or; on the desktop.
Lastly, MYOB Pay Superannuation can also take care of your Self-Managed Superannuation Funds (SMSF).
I would encourage you to set up Pay Superannuation now, due to the above benefits.
To sign up for Pay Superannuation, log in to your AccountRight Live file, go to the Payroll command centre and click the Pay Superannuation button. The owner of the MYOB subscription will need to complete the setup using their my.MYOB credentials. You will be prompted to enter your my.MYOB email address and password. If you can’t remember your password, don’t let this discourage you; simply click Forgot Password and you will receive an email from MYOB to reset it.
Once you have completed the application process, MYOB will deposit 1 cent into your bank account with a reference number. Once you have this reference number, click on the Pay Superannuation button again and enter the reference number for validation, and that’s it – you’re ready to make super payments.
Tips for setting up
Here are some helpful tips on setting up Pay Superannuation:
Changing your Pay Super Details
If you are a Pay Super Administrator with a verified mobile number, you can make changes to the payment limit and users. Find out more about changing your Pay Super detials in the linked Help article
MYOB Super Portal
If you have a subscription or Cover agreement for MYOB Essentials, AccountEdge or classic AccountRight (v19), you’ll have access to a different SuperStream compliant service, MYOB’s super portal. You can learn more about the super portal here.
That’s it from me, for now! Keep an eye out for my next blog post on how to process payments using MYOB Pay Superannuation and tips on ensuring the superannuation reconciles.
Of course if you need help, reach out to your local MYOB Certified Consultant.
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