Self-managed superannuation funds

M‑Powered Superannuation > Keeping track of your MYOB M‑Powered Superannuation payments > Self-managed superannuation funds

You cannot use M-Powered Superannuation to pay independent, self-managed superannuation funds (SMSFs). However, you can use your software to calculate the superannuation amount, and then create a Spend Money transaction to make payments. For more information about Spend Money transactions, see Spending money.

To calculate and pay amounts to SMSFs

1	Create the superannuation fund.

a	Go to the Lists menu and choose Superannuation Funds. The Superannuation Fund List window appears.

b	Enter the details of the fund, but leave the Pay using M-Powered Superannuation option deselected.

c	Click OK. The superannuation fund is now listed in the Superannuation Fund List window.

2	Link the fund to the employee’s card.

a	Open the employee’s card, and go to the Superannuation page of the Payroll Details tab.

b	In the Superannuation Fund field, select the superannuation fund you just created and click OK.

3	Process your payroll as you normally would.

4	Generate a report to confirm the superannuation amount to be paid.

a	Go to the Reports menu and choose Index to Reports. The Index to Reports window appears.

b	Click the Payroll tab and double-click the Superannuation Accrual Detail report. The Report Customisation window appears.

c	Select the superannuation fund in the Super Funds field and enter the pay period in the date fields.

d	Click Display to open the report.

The report shows the total superannuation amount calculated for the selected fund.

5	Create a Spend Money transaction to pay the superannuation fund.