Forum Discussion

GaryOo's avatar
GaryOo
Experienced Cover User
6 years ago

Salary Sacrifice Super Setup

Help needed to setup super salary acrifice.   Employee wants to maximise super salary sacrifice between now and the end of the financial year for concessional contributions into super. His financia...
  • Neil_M's avatar
    Neil_M
    6 years ago

    HI GaryOo 

     

    Out of curiosity, have one or more pays for this employee been recorded in this calendar month? When AccountRight calculates superannuation figures it looks at the monthly amount of eligible wages compared to the amount of that superannuation in the month. If there is an imbalance between these two figures AccountRight will try and correct it in that pay.

     

    So if for example the employee had received $1000 of eligible for the month to date but hadn’t received any superannuation for the month, on the next pay in that same calendar month, before any wages have been added AccountRight will add $358.90 in the superannuation.

     

    If the superannuation is only going to be kicking in from a particular point in the month going forward, then for the first month you would need to manually calculate the figure and edit the amount on the pay slip. Once a new calendar month happens then the superannuation will calculate with the pays correctly

Neil_M's avatar
Neil_M
Former Staff
6 years ago

HI GaryOo 

 

Out of curiosity, have one or more pays for this employee been recorded in this calendar month? When AccountRight calculates superannuation figures it looks at the monthly amount of eligible wages compared to the amount of that superannuation in the month. If there is an imbalance between these two figures AccountRight will try and correct it in that pay.

 

So if for example the employee had received $1000 of eligible for the month to date but hadn’t received any superannuation for the month, on the next pay in that same calendar month, before any wages have been added AccountRight will add $358.90 in the superannuation.

 

If the superannuation is only going to be kicking in from a particular point in the month going forward, then for the first month you would need to manually calculate the figure and edit the amount on the pay slip. Once a new calendar month happens then the superannuation will calculate with the pays correctly

  • GaryOo's avatar
    GaryOo
    Experienced Cover User
    6 years ago

    Hi Neil_M,

     

    I thought it might be for that reason.

    Employee's gross prior for the month was $560, 35.89% of $560 is $200.98 (which was what MYOB calculated).

    Looks like I'll have to manually edit the salary sacrifice for the remainder of the month.

    Just happy my setup wasn't wrong! 

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