If an employee wants super paid into multiple funds, they'll need multiple employee cards. This is because you can only assign one super fund to an employee's card. Here's how it works: The employee will have one primary card for their payroll information, and this card is linked to one super fund. For each additional super fund, a new employee card is created to store the fund information. When the employee is paid, the fund linked to their primary card is paid as normal. The payments for the additional funds are temporarily held in a "clearing" account, then distributed to the other employee cards and their associated super funds. OK, let's step you through how to set this up. 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 fund. Your scenario might be different, but the same approach can be used. ui-expand |
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title | 1. Set up the employee's cards |
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| If you've already set up a card for the employee, consider this their primary card. For our example, we need an additional employee card which we'll refer to as the secondary card. ui-text-box |
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type | note | Make sure you've set up your employee's super funds. | Here's what you need to record in each card: In the... | record this info... |
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Primary card | | Secondary card | - Enter the employee's name. To differentiate from the name in their primary card, just add a middle name or initial.
- Assign one super fund.
- Enter the employee's membership number for that fund.
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title | 2. Create a holding account |
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| We need to create an asset account which will be used to temporarily hold the super funds deducted from the employee's pay. This type of account is often referred to as a "clearing" account. When creating this account, set the Account Type to Other Asset as shown in our example: Image Removed |
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