Forum Discussion

AwG1's avatar
AwG1
Contributing User
2 years ago

Incorrect ABN for SMSF in MYOB

Hello I've spent a few hours on this already and have followed advise provided in forums. I have an employee with a SMSF. They have provided the ABN (and I've checked 4 times now) and it is correct....
  • Princess_R's avatar
    Princess_R
    12 months ago

    Hi AwG1,

     

    Thank you for your response.

     

    I've further checked the Superfund ABN from the ATO Superfund Lookup, and I can see that the ABN for this fund is invalid as the fund's status is "Regulation Details Removed". This means the regulation details of this SMSF have been removed due to failure to lodger returns. The status needs to be "active" for us to process the payments associated with that fund. Therefore, this requires the fund to contact ATO and get the status changed.

     

    Please don't hesitate to reach out if you've got any questions or concerns in the future. I'm here to help.

     

    Cheers,

    Princess

Shella_A's avatar
Shella_A
MYOB Staff
2 years ago

Hi AwG1, 

 

Thank you for your post.  I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.
 

To correct the situation, kindly re-set up the super fund within the file by going to Business name (upper right-hand corner) > Payroll settings > Superannuation funds > Create super fund > Then fill out all the necessary fields. The Help Article Set up superannuation funds will provide you with all the information available.

 

If it still shows incorrect ABN, it is possible that the SMSF updated or changed their details. We recommend you contact the SMSF of your employee directly to verify that information. 

 

If you need further help, don't hesitate to start a new post and we'll be happy to assist.

 

Otherwise, if my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.

 

 

 

Cheers,
Shella

  • AwG1's avatar
    AwG1
    Contributing User
    12 months ago

    Hello Shella,

    thank you for your response. I do not know why this is not working for me. I have double and triple checked the ABN. I have the correct ESA and bank account details and still no luck. The message remains (with the !) "the ABN for this employee's fund is invalid. To fix this, create a new fund with correct details". I now have the same fund entered 3 times. 

    Your help would be greatly appreciated. 

    • Princess_R's avatar
      Princess_R
      MYOB Moderator
      12 months ago

      Hi AwG1,

       

      Thank you for your response.

       

      I'm sorry to hear about your experience with the ABN for your employee's fund. I understand your concern, and I'm here to assist you in resolving this matter. To address the error message you're encountering, could you please provide Superfund's name and its' ABN? I will investigate this further on our back end.

       

      Cheers,

      Princess

      • AwG1's avatar
        AwG1
        Contributing User
        12 months ago

        Thank you. The SMSF is Tawfik7 Super Fund. ABN 41587621422

        warm regards

         

  • Tiffy's avatar
    Tiffy
    Contributing User
    11 months ago

    Hi there,

     

    I have the same problem as the person below. The ABN is correct and the ESA is correct yet I still can't process super payments for the employee to their SMSF. This is driving me crazy and the accountant and the bookkeeper as both cannot understand what the problem is.

    I spoke to a MYOB consultant and he forwarded this link to me but I can't work out where to go to try and re-set everything. Where does it say Business name and where are payroll settings?

    • AwG1's avatar
      AwG1
      Contributing User
      11 months ago

      Hi Tiffy 

      So, my problem was resolved. The reason why I can't make payments is because the tax returns have not been completed for the SMSF and until they are, the account is locked and I can't make the contributions. Frustrating but problem solved :)

    • Princess_R's avatar
      Princess_R
      MYOB Moderator
      11 months ago

      Hi Tiffy,

       

      Thank you for reaching out, and a warm welcome to the community forum. I trust you'll find it to be a valuable source of information.

       

      I'm sorry to learn about the challenges you're facing in processing super payment for your employee to their SMSF, despite having the correct ABN and ESA. I can imagine the frustration this situation is causing for you, as well as for your accountant and bookkeeper.

       

      If the SMSF details are accurate and you're still encountering issues with processing super payments, it might be beneficial to verify the ABN using the ATO superfund lookup to ensure accuracy. If you've got other SMSFs, could you please share the SMSF name and ABN for the specific fund in question?

       

      Feel free to let me know if you need further support. I'm here to help.

       

      Cheers,

      Princess

      • Tiffy's avatar
        Tiffy
        Contributing User
        11 months ago

        Hello Princess_R 

        The ABN has been checked using the ATO ABN checkup and the accountant and bookkeeper have also checked it. We only have 1 SMSF.

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