Checking and adjusting superannuation

https://help.myob.com/wiki/x/K7KyAQ

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MYOB Essentials calculates the amount of superannuation you need to pay on behalf of your employees. This topic explains how the super is calculated and how you can adjust over- or under-paid superannuation amounts.

How is superannuation calculated?

In a given month, superannuation is calculated on an employee's pay as follows:

The amount of pay for the month MULTIPLIED by the current super rate (9.5%) MINUS super already calculated for that month.

The super calculation also takes into account any adjustments made to an employee's super for a given month.

Here's an example of how a super adjustment affects the super calulation in an employee's pay for a given month:

(MTD = Month to date)

Week	Pay	MTD Pays	MTD Super	Super in Pay
1	$1,000	$1,000	$95	$95
2	$1,000	$2,000	$190	$95
Super adjustment of $50			$240
3	$1,000	$3,000	$285	$45

This shows that despite the employee being paid the same amount each week, the super calculation in week 3 takes into account the super adjustment. This ensures the correct amount of super is paid to an employee for any given month.

Fixing super payments from previous months

If the incorrect super is from a previous payroll year, check with your accounting advisor before attempting to correct this in your software.

If you need to fix over or under paid superannuation, you can adjust the superannuation amount on the employee's next pay. Simply click into the Super field on their pay and adjust the amount.

Here's an example where the super amount is manually increased by $100 (to make up for an underpayment from a previous month).

animation showing super amount being changed

You could also create a separate pay just for the super adjustment. Because you can't record a negative pay in MYOB Essentials, you can only do this to fix a superannuation underpayment. Make sure to zero out all hours and amounts from the pay and enter just the super amount in the Super field.

Here it is in action:

animation showing pay values cleared and super amount being entered