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How do I process Reportable Employer super contributions in MYOB essentials such that it reflects on payment summary
MYOB are saying you can't show reportable super in Essentials. They say you will have to do a paper PAYG Summary but that is not acceptable as far as I am concerned. Was sold a program that can't do a standard step in a PAYG summary. Just need to be able to add in manually.
I had this issue 17/18 year and had to do manual handwritten payment summaries. Which was a massive pain.
I knew there must be a way to generate this information digitally.
18/19 year i processed as per attached and was able to generate payment summary capturing RESC (reported in correct place on summary).
you will need to enter in new payroll categories, as per attached screenshot. Note: these are an example for you and not acutal employee pay advice.
I hope this helps
a month ago - last edited a month ago
can you explain this screen shot a little further please. Does it mean there are 2 ways for an employer to report additional super payments? Is the extra earning offset by the deduction ie pay 20,000 additional super but needs to be offset as with the deduction? or is this example "either or" example ?
For example the MYOB help website specifically says the following
Employer additional super
If you as an employer contribute more than the compulsory 9.5% super guarantee, this is called employer additional super.
It's a tricky area because some employer additional superannuation contributions need to be reported to the ATO (known as reportable employer super contributions RESC). For clarification, check the ATO's guidelines or speak to your accounting advisor.
If your employer additional super is:
So your answer is saying YES it is reportable if you follow the screen shot above ?? Am i correct to interpret it this way ?
a month ago
You need to set up new two new payroll categories, both additional wage and deduction, to then be able to process wage for RESC (additional super).
My example screen shots are the way i have set up and then process RESC so that it shows correctly on Payment Summary. This is not either / or options shown, it is the way it works to generate reporting correctly and digitally from MYOB Essentials. I cannot generate payslip unless put in as wages first, then deduction for same amount (as per screen shot example payroll advice), it has not worked any other way. I have spent a lot of time with both MYOB and accountant to ensure i could generate digital payment summary and it report correctly (and not have to hand write them each year). This is the way it has worked and does report on payment summary, so can digitally prepare / lodge and provide to employee and ATO respectively.
Hope that makes sense and answers your query
a month ago
Thank You. All clear now. Employer contributions over 9.5% can added to payment summary. cool