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Employee with Multiple Super Funds
If an employee wants super paid into multiple funds, they'll need a multiple employee record. This is because you can only assign one super fund to an employee's record, where Q6 allow users 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 Lists.
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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