Super Payment Process confirmation

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Experienced Cover User pandkpatel
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Super Payment Process confirmation

Hello

 

I have Superannuation question.

Below is the process I follow to pay super.

My pay run is every fortnight.

Every Quarter as per below.

1          1 July – 30 September      

2          1 October – 31 December     

3          1 January – 31 March           

4          1 April – 30 June         

 

I run the from the Payroll Reports group “Payroll summary & details” (Payroll summary & detailed reports for the specific dates as mentioned above), and using column Super, I Pay super using “Rest Super Employer Portal” (I manually enter the super details in the rest super). After entering each employees super details, I make payment using bank transfer (Rest Super Banking Details).

 

Next Day when I see the entry in the MYOB Essentials, I allocate the transaction to “Super Payable (Liability account).

 

Just confirming am I using correct process?

 

If any one can assist me would be appricaited. 

 

Regards

Prak

3 REPLIES 3
MYOB Moderator Neil_M
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Re: Super Payment Process confirmation

Hi @pandkpatel 

 

I’d recommend having a look at our help article Recording super payments made through MYOB's super portal. This article steps through how to record super contributions inside MYOB Essentials for payments made through the MYOB Super Portal, which is just a clearing house.

 

As the MYOB Super Portal doesn’t update the information inside MYOB Essentials, you could use the same process outlined to record the contribution payments made in a third party clearing house.

 

As I’m not familiar with the REST super portal clearing house, I can’t speak to whether your following the correct steps. You would need to speak with them directly for confirmation about that. However the aforementioned help article should guide you through what needs to happen in MYOB Essentials to record those contributions

Regards,
Neil

MYOB Community Support

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Consulting4accs
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Re: Super Payment Process confirmation

So how can we provide evidence to the ATO for confirmation of receipt of super payments if using the MYOB clearing house? Assuming already using bankfeeds just allocating it to accounts isnt enough. https://help.myob.com/wiki/display/ea/Recording+super+payments+made+through+MYOB%27s+super+portalD

 

Does the super portal receive confirmation from each fund ? can it be downloaded ?

 

 

Please advise  

MYOB Moderator CloverQ
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Re: Super Payment Process confirmation

Hi @Consulting4accs 

 

According to ATO - SuperStream transmits money and information consistently across the super system - between employers, funds, service providers and the ATO. The data is linked to the payment by a unique payment reference number. 

 

My understanding is that if you are using a SuperStream compliant option to make super payments, you don't need to notify ATO separately. I'd suggest confirming with ATO directly. And if needed, you can use the reporting function within MYOB Super Portal to report on past payments.

Cheers,
Clover

MYOB Community Support

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