AccountRight Plus and Premier, Australia only
Generally, if you pay an employee $450 or more before tax in a calendar month, you have to pay superannuation on top of their wages.
The minimum you must pay is called the Superannuation Guarantee.
- The super guarantee is currently 9.5% of an employee’s ordinary time earnings.
- You must pay super guarantee contributions to your employees' chosen superannuation funds at least four times a year, by the quarterly due dates (learn how to pay super).
- Super guarantee contributions are not reportable on your employees' payment summaries, but additional contributions may be, such as salary sacrifice. Check the ATO website for help working out if a contribution is reportable.
- If you need to contribute more than the 9.5% super guarantee, see Additional superannuation contributions.
AccountRight comes with a set of superannuation categories which you can use to calculate and track your employees' super payments. To view these categories, go to the Payroll command centre and click Payroll Categories then click the Superannuation tab.
These superannuation categories can be set up to suit your needs, or you can create new ones.
To set up a superannuation category
Go to the Payroll command centre and click Payroll Categories. The Payroll Category List window appears.
- Click the Superannuation tab.
- If the superannuation category you want to set up already exists, click its zoom arrow to open it. Otherwise, click New and give the category a name.
Make the required selections in the window.
Linked Expense Account is the account to which you charge employer expense superannuation payroll categories. The Default Employer Expense Account you specified when setting up payroll appears as the default.
We recommend you create an expense account called Superannuation Expense and select it as the linked expense account.
(Only applicable for Employer Additional, Productivity Superannuation, Redundancy Superannuation or Superannuation Guarantee category types.)
Linked Payable Account is the liability account to which the superannuation amounts accrue. The Default Tax/Deductions Payable Account you specified when setting up payroll appears as the default.
We recommend you create a liability account called Superannuation Liability and select it as the linked payable account.
Select the appropriate contribution type from the list.
- Employee Additional (deduction) - the contribution is deducted from the employee's net pay (see Additional superannuation contributions)
- Employer Additional (expense) - the contribution is paid by the employer in addition to gross pay (see Additional superannuation contributions)
- Productivity (expense) - the contribution is paid by the employer in addition to gross pay
- Redundancy (expense) - the contribution is paid by the employer in addition to gross pay
- Salary Sacrifice (deduction) - the contribution is deducted from the employee's gross pay (see Set up salary sacrifice superannuation)
- Spouse (deduction) - the contribution is deducted from the employee's net pay
- Superannuation Guarantee (expense) - the contribution is paid by the employer in addition to gross pay. By default, this category is set to calculate the mandatory 9.5% super guarantee contributions
Once a superannuation category has been created (and saved), the Contribution Type cannot be changed.
D If you want the superannuation amount accrued to appear on employees’ pay advice, select the Print on Pay Advice option. E
Calculation Basis can be:
- User-Entered Amount per Pay Period allows you to enter an amount at the time the pay is processed each pay period. Choose this option if the amount varies regularly or if you want to use the amount you have entered in an employee’s standard pay details.
- Equals x Percent of allows you to enter a percentage of a payroll category (such as wage, deduction or superannuation) or a percentage of all wage categories (by choosing Gross Wages or Federal Wages ). The superannuation will be calculated until the limit is reached.
- Equals x Dollars per allows you to enter a specified amount per pay period, per hour, per month or per year until the specified limit is reached.
In the Exclusions field type the amount by which the eligible wage is reduced before the superannuation is calculated.
For example, an employee with a gross wage of $1000 per month and an exclusion of $100 will have the superannuation calculated only on $900.
Superannuation limits can be used to place a ceiling on the superannuation calculation.
For example, for an Employee Additional superannuation deduction of $30 per pay period and a limit of 2% of gross wages, a pay with gross wages of $1000 yields superannuation of only $20 (i.e. 2%).
Limit can be one of the following three choices:
- No Limit signifies no limit to the superannuation calculated for this category.
- Equals x Percent of results in the maximum superannuation calculated being a percentage of wage, deduction or superannuation payroll categories. For example, an Employer Additional superannuation contribution might be $20 per pay period, but this should not exceed a maximum of 20% of the employee’s base salary.
- Equals x Dollars per results in the maximum superannuation calculated being a fixed amount per pay period, per hour, per month or per year. For example, a Salary Sacrifice superannuation might be 5% of the employee’s gross wages up to $1000 per year.
If this superannuation calculation is only payable if wages exceed a specified amount per month (such as for superannuation guarantee contributions), enter this amount in the Threshold field.
For example, if the threshold is $450 per month, then superannuation is not payable until the employee’s gross wage exceeds $450 per month.
When determining whether the gross wages on a pay exceeds the threshold per month, other pays issued that month are included.
- Click Employee. The Linked Employees window appears.
- Select the employees whose pay will include this category, then click OK.
- Click Exempt. The Exemptions window appears for the super category you are creating.
- Select the wage categories that you don't want to accrue super.
- Click OK and click OK again to return to the Payroll Category List window.
To delete a superannuation category
You can only delete a superannuation category if it hasn't been used in an employee's pay.
- Go to the Lists menu and choose Payroll Categories.
- Click the Superannuation tab.
- Click the zoom arrow to open the superannuation category to be deleted.
- Go to the Edit menu and choose Delete Superannuation.