Creating superannuation payroll categories

This topic applies to you only if you're using MYOB Accounting Plus.

Move up to MYOB M-Powered Superannuation.

In MYOB Accounting, superannuation amounts are calculated for your employees using superannuation payroll categories. Superannuation payroll categories can be set up to meet your employees' needs.

Note: Review the default payroll categories before you use them

During the process of creating a superannuation payroll category, you can link employees to the category. When you link employees to a payroll category, that category will appear on the employee's paycheque. You can also link employees to a superannuation payroll category using the Card Information window - Payroll Details view - Superannuation.

You can select from seven superannuation contribution types; a linked payable account must be specified for each contribution type.

Salary Sacrifice (deduction): This contribution type is deducted from an employee's gross pay, that is, it's deducted before the PAYG tax has been calculated. It reduces your employees' gross taxable income.

Employee Additional and Spouse (deduction): These contribution types are deducted from your employees' net pay, that is, they are deducted after the PAYG tax has been deducted.

Superannuation Guarantee, Employer Additional, Productivity and Redundancy (expense): These contribution types are paid in addition to your employee's gross pay. Consequently, as well as a linked payable account, you need to specify a linked expense account to record these employer expenses.

You may need to create a new superannuation payroll category if existing ones do not meet all of your employees' superannuation needs. For example, if some of your employees make salary sacrifice contributions based on 5% of gross wages whereas other employees make salary sacrifice contributions based on 10% of gross wages, you need to create a separate Superannuation payroll category to meet the needs of these employees.

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