Processing MYOB M‑Powered Superannuation payments

M‑Powered Superannuation > Using MYOB M-Powered Superannuation > Processing MYOB M‑Powered Superannuation payments

Superannuation contributions accrue over time and accumulate in the superannuation liability account from which you pay employee superannuation. The period for which you pay superannuation does not need to coincide with the payroll period.

note : Superannuation guarantee contributions must be made at least quarterly

The ATO requires employers to make superannuation guarantee contributions at least once each quarter for the quarters ending September, December, March and June. Contributions must be paid not later than the 28th day of the following month. To meet this requirement, your superannuation payments must be sent on or prior to the 15th day of the month following the quarter (this date takes into consideration weekends and public holidays). For example, your superannuation payment for the quarter ending 31st of December must be made on or before the 15th of January.

To process an MYOB M‑Powered Superannuation payment

1	Go to the Payroll command centre and click Pay Superannuation. The Pay Superannuation window appears.

2	Click the search icon () in the Pay From Account field and select the business bank account from which the superannuation will be paid. You must select the account that you have nominated for M-Powered Superannuation.

3	In the Dated From and Dated To fields, enter the start and end date of the period for which the superannuation is being paid. The superannuation accruals for that period now appear.

4	Record the description of the transaction in the Memo field.

5	Enter the transaction date in the Date field. This date will appear in the transaction journal. It may differ from the date when the transaction is processed because this depends on when the payment is authorised and sent via the M‑Powered Services Centre.

6	Select the superannuation payments you want to process by clicking in the select column () next to them.

7	Click Process. The Authorisation window appears.

note : If you want to change a superannuation payment

If you want to change your superannuation payment, but you have already clicked Process, see Changing MYOB M‑Powered Superannuation payments.)

8	Choose to authorise the payment now or later.

▪	If you are an M-Powered authoriser (a person authorised to make superannuation payments), select your Authoriser Name, enter your Password and then click Authorise Now.

▪	If you not an M-Powered authoriser, click Authorise Later. The superannuation payment is recorded in your company file and transferred to the M‑Powered Services Centre to be authorised and sent later.

note : If a second authorisation is required

When you click Authorise Now, the payment is recorded in the M‑Powered Services Centre with a status of Partially Authorised, and a window appears offering you the choice to perform the second authorisation now or later. Click Cancel to complete the authorisation later, the Prepare Electronic Payments window appears. Click M‑Powered Services Centre to complete the payment’s authorisation now.

If an expected superannuation contribution does not appear

First, make sure that a superannuation fund has been assigned to the employee (see Setting up your employees’ superannuation). Check to make sure that the option Pay using M-Powered Superannuation is selected for the employee’s superannuation fund (see Setting up Superannuation funds). Also check to see that superannuation is calculated using superannuation payroll categories (see Creating payroll categories).