When processing employee dividends or wages runs, the system generates withholding entries to the various super withheld accounts. These entries are automatically allocated to the relevant employee by the system.
The appointee has the responsibility of remitting these funds to the appropriate party depending on the circumstances. The funds may be remittable to the ATO under the Superannuation Guarantee Charge, directly to the employees super fund or to a clearing house.
The application provides a form to generate the remittance entries. You access the form through Transactions > Employees > Pay Super Amounts Withheld:
The pay amounts withheld form has the following elements:
- The withholding accounts to be included in the remittance. If an account is ticked in this list, a corresponding column will display in the detail grid below. All accounts are ticked by default, but can be unticked if not required.
- The date range of the withholding transactions. If you were remitting super for the whole financial year, you would enter a from date of 1 July and a to date of 30 June. If you need to include super withheld from the previous appointment type in the payment change the Withheld From: date to the start of the previous appointment type or the date of the first transaction you wish to include in this payment that super was withheld from in the previous appointment type. Once you have changed the dates click on Load Now to load the data for that reporting period.
- This section details the employee, the total withheld for the period, the total already remitted for the period (if applicable) and the balance remaining to be remitted.
- A column for each of the accounts selected in 1 above. Each column details the total that has been withheld for each account.
- The total to be remitted for each employee, the sum of the columns in 4 above.
- Payee options. You have the following available options for the payee:
- ATO Payments - Will create the remittance transactions with the ATO payments division as the payee.
- This payee - You can lookup any counterparty to be used as the payee.
- The Employee's Super Fund - A remittance payment will be generated to the superfund detailed in the employee record. A list of superfunds is provided. Unticking a superfund in the list will untick the employee from being included in the remittance.
7. Options to create an EFT payment and group all payments to grouped deposits and payments account.
8. Options to select the job type, date, account and batch options. Click pay withholdings to create the payment entries/payment batch.
Reporting directly to a super fund and not using a clearing house you will need to generate the payments first.
If using a clearing house you will need to create the SAFF file and send it to the clearing house first. They will then tell you who to pay, how much and what the payment reference number is for each payment. More on the superstream process can be found here.