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Employees with multiple super funds

 

 

 

 

Employee with Multiple Super Funds

 

If an employee wants super paid into multiple funds, they'll need multiple employee record. This is because you can only assign one super fund to an employee's record, where Q6 allow user to set up multiple employee record with same name.

 

Here's how it works:

 

The employee will have one primary record for their payroll information, and this card is linked to one super fund. For each additional super fund, a new employee record is needed to store the other fund information.

 

When the employee is paid, the fund linked to their primary record is paid as normal. The payments for the additional funds are temporarily held in a "clearing" account, then distributed to the other employee record and their associated super funds.

 

OK, let's step you through the setup.

 

We'll use the example of an employee who wants their Superannuation Guarantee payments to go to one fund, and a salary sacrificed amount to go to another. Your scenario might be different, but the same approach can be used.

 

 1. Set up the employee's record

2. Create a holding account

3. Set up the Pay Item List

 

Set up  Pay Item List

Among other things,  Pay Item List are used to work out how much super to pay, and where to pay it.

 

For our example where 2 super funds are being paid, we need to set up 2  Pay Item List.

 

Set up a superannuation to cater for the employee's mandatory (employer-paid) super payments. This super  Pay Item might already exist in your company file - just make sure it's assigned to the employee.

Example super guarantee  Pay Item List setup

Set up a deduction  Pay Item  to deduct payments for the employee's second super fund.

For this  Pay Item further information, please click Employer Contributions under Payroll Settings.

 

 

 

 

 

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