How to record Voluntary Post tax Superannuation Contributions

You can boost your super by adding your own contributions to your super fund.

Personal super contributions are the amounts you contribute to your super fund from your after-tax income (that is, from your take-home pay). More on this can be found here on the ATO website. 

How to setup Voluntary Superannuation accounts and process these withholdings in Insol6

1. Setup the Account

If an account is not already setup in your Default Chart of Accounts you can set one up as follows

Account Type: Liabilities: Superannuation Liabilities (Trading)

Account Name: Superannuation Withheld Voluntary Contributions  (or similar)

Sub Account of: Super Control (Trading)

Under the Payroll tab of this account tick Withholding: Voluntary Super Contributions

2. Setup the Pay Wages Form and process a wages payment that includes Voluntary Super withheld

Pay Type: Deductions: Withheld

Expense Account: leave blank

Withholding Accounts: Super Control (Trading): Superannuation withheld voluntary Contributions

Below screenshots are examples of a payment before and after the Voluntary Super has been entered. Note only the Net amount has changed.

Posted payment will look like this

Note the Voluntary withholding is not reported on the Employee STP Payment Summary Listing. Please contact support if your voluntary super is reporting on STP as a hotfix will need to be applied.

SAAF wizard report splits out Voluntary amount

Pay Slip. Reporting of voluntary super fixed in updates post Aug 2020