Recording super payments made through MYOB's super portal

https://help.myob.com/wiki/x/g4iU

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When you use MYOB's super portal (available soon) to pay superannuation, the money will be automatically paid from your bank account. But this won't affect your MYOB Essentials accounts. You'll need to record the payment transaction yourself.

If you've got bank feeds on this bank account, this is easy. When the super payment transaction appears in your bank feed, just allocate it to your Superannuation Payable liability account.

If you don't have bank feeds, you can create a Spend Money transaction for the amount of the super payment. Allocate it to your Superannuation Payable liability account.

When will MYOB's super portal be available?

Recently the ATO has announced that bigger businesses (greater than 20 employees) have until the end of October 2015 to comply with SuperStream requirements.

Given this decision, if you have 20+ employees you can start using MYOB’s super portal from August.

If you have 19 or fewer employees you have until the 30 June 2016 to comply with SuperStream requirements, and can start using MYOB’s super portal in time for your first contribution of the new financial year.

We recommend you pay your June quarter or any monthly contributions the way you normally do. We will contact you via email or in product when you can start using MYOB’s super portal.

For more information about paying super through MYOB's super portal, see Pay superannuation.

Related topics

Pay superannuation

Paying super

Set up Pay superannuation

Spend money

Allocating bank transactions

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