Superannuation Funds

The Superannuation Fund file stores any funds to which contributions are made.
You can create unlimited Superannuation funds within Ready Pay.

Opening the Superannuation Fund File:

To access the Superannuation fund file do one of the following:

From the navigator go to Company Definitions > Maintain Company

In the Company window, the Super Funds file is listed on the left.

-- OR --

From the Navigator go to Company Definitions > Superannuation Funds .
The Super Funds are in the left panel, where you can expand the Node for more information, and also in the right panel where you can double click on the Super fund to open/edit it.

Create a New Superannuation Fund:

When you create a new Superannuation Fund, the system automatically creates two pay items used to calculate the mandatory Employer Contributions for employees in that fund. (NB. These will both have the suffix SR.)

Once the Superannuation Fund file is open, select the Super Funds node on the left.
Click on the Add New button.
The Super Funds details screen will open.
The following information must be completed:

Field	Explanation
Details
Name	Enter the name of the Superannuation fund.
ClickSuper Product Search [button]	This option will be available if you have previously registered for the ClickSuper service. See ClickSuper Product Search for information.
Product Name	Some Super Funds have different super products within their fund.
Percentage Base	If you defined a SGC base contribution at step 6 of the Company Creation Wizard, it will be inserted here by default. You can override it if required.
Plan Id	Enter the Plan Id as supplied by the fund, if required.
ABN	Enter the Superannuation fund's ABN. If you use ClickSuper Product Search, this field will auto populate.
Accounts Payable Ref	This field can store an accounts payable reference for a Superannuation fund.
USI/SPIN	Enter the Superannuation fund's USI or SPIN . If you use ClickSuper Product Search, this field will auto populate.
Exclude from ClickSuper	Check this box if you do not want this Super Fund to be included in the ClickSuper upload process.
Employer/Contributor ID	This is the identifier for the employer, as registered with ClickSuper. It is mandatory if you have a Multiple Employer Facility, but optional if you have a Single Employer Facility.
Self Managed Fund (SMSF)	Tick this box if the fund you are adding is an SMSF.
Electronic Service Address	Enter your Electronic Service Address (ESA ). Only required for SMSF's . If you use ClickSuper Clearing house enter CLICKSUPER as the ESA if you do not know the ESA.
Minimum Thresholdslt.
Override Monthly Threshold	Tick the override box if you wish to override the value entered in the Superannuation Thresholds in the Financial Year set up.
Threshold Amount	Enter an alternative threshold amount.
Minimum Eligibility Criteria- Employees Under 18 Years
Full Time Part Time Casual	You must pay super guarantee on payments you make to an employee under 18 years old if they work for you for more than 30 hours in a week, regardless of how much you pay them. As minimum enter 30 hours per week in the Casual field.
Account Details - Only required for SMSF's
Bank State Branch	Enter the BSB of the bank account from which the contribution should be paid. If you have entered a valid BSB, the bank and branch will display, otherwise click Unknown to create a BSB.
Account Name	Enter the account name from which the contribution should be paid.
Account No.	Enter the account number from which the contribution should be paid.
Lodgement Ref	Enter a lodgement reference that will appear on the destination account to identify the payment.

Click OK when completed.

The system will automatically create two Superannuation pay items for this Superannuation fund. When adding a new Superannuation fund, the two auto-generated Superannuation items now have their GL debit and credit codes set to "TBA". This will ensure that general ledger transaction amounts for these items will show on the general ledger reports even if the specific general ledger account code has not yet been set up. In addition the two auto-generated Superannuation items will now be switched on for Payroll Tax and Workers compensation in all States & Workplaces respectively.

Edit a Superannuation Fund:

Once the Superannuation fund file is open, double click the required fund on the right to edit it (as per previously described fields).
Make the change/s then click OK to save and close the specified Super Fund window.

ClickSuper

Ready Pay incorporates the ClickSuper clearing house, which eliminates the need to log in to multiple Superannuation portals to add member details.
For information on this feature, see Administrator Information | ClickSuper Clearing House.

In addition, ClickSuper Document Export provides information on processing Superannuation contributions.

Global Super Base Rate % Changes

Occasionally the ATO will increase the Super percentage amount and you will need to change to the Base Rate % which should be applied globally across all Super Funds.
This is usually done as part of the Year End process for a new Financial Year.

Click on the Super Funds node and click More on the toolbar. Highlight the Super Funds that need to be updated
Choose Super Rate Change - this will open the Superannuation base % changes Wizard.
In the Amount to change base % by box, specify the difference between the old percentage value and the new percentage value.
As per the example given, if the rate is increasing from 12% to 12.50%, the difference is 0.5 - therefore you type in 0.5 in the box.
To ensure that this change is applied to all employees within the selected group of Super Funds, tick the box for Apply new base % to related employees.
Click Next - this will process the change.
Click OK when completed.

Note: This will only change an employee's superannuation % if their existing % rate matches the 'old' super rate. For example, if you are changing the rate from 11% to 11.50, the employee's existing rate needs to be 11% also, otherwise it will not be changed.