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Hi - I have an employee who is salary sacrificing extra super. I recorded the sacrifice as a deduction. I have just noticed it does not record as a super contribution (but is accruing in the balance sheet as a Deduction payable) and thus has not got remitted to the superfund. How do I record the sacrifice as extra super and how do I organise payment via superstream.... Thanks
Solved! Go to Solution.
Welcome to the MYOB Community Forum, I hope you find plenty of useful information.
To get it to work correctly you should be creating a Superannuation Category not a Deduction.
Can I ask how your Salary Sacrifice Pay Item was set up?
If this was set up with the type: Super Salary Sacrifice, it should be reducing the Gross Wages and adding extra to the Super Payable account and be showing as extra super to pay in the Pay Superannuation Page.
If you could provide a screenshot of this Pay Item, this would help greatly to identify what the cause may be.
As for Paying Superannuation through the MYOB SuperStream solution, this is set up in the Super Portal. For steps on this, I suggest checking out this support note: Set up Pay superannuation
Hi - It was set up as a salary sacrifice under deductions but the account it is linked to is not superannuation payable but Payroll Deductions - hence the oversight in payment when super is downloaded. How do I change the account it is linked to and also get the existing deductions into the superannuation payable for downloading into the super portal? Thanks so much - cheers
My apologies I was mixing AccountRight & Essentials information in my last reply.
Starting from set up, you have set this up correctly from your screenshot. The details should be set up as per our support note: Setting up salary sacrifice superannuation
Once completed, you process your pays as normal and then go through to Pay your superannuation through the MYOB Super Portal. The support note for this is: Pay superannuation
When you have made a payment through the Super Portal, the payment would then come out of your Bank. We would need to allocate this to both the Super Payable Account & Payroll Deductions account as per this support note: Recording super payments made through MYOB's super portal
As for adding the Salary Sacrifice amounts from Payroll Deductions to Super Payable, Currently there is no way to change this link in the Pay Item to specific GL Codes. I would recommend voting on this Idea we have on the Essentials Idea Exchange: Select account for payroll deductions
As a passing thought, you could transfer the balance between your Payroll Deductions to your Super Payable Account when you do your Super Payments so that your totals are against 1 account rather than 2?
To do this, you can just create a journal entry to credit the Payroll Deductions Account and debit the Super Payable Account.
That being said, I would be checking with the Financial Advisor before doing that step as it would achieve the result you would like however doing journals on these accounts could affect your reporting structure.
Please let us know if you have any questions on the information above or have run into any troubles.