I am trying to set up super with a monthly threshold, however, it doesn't seem to be working. Please

Justin Brooks
Justin Brooks Member Posts: 2 Novice Member Novice Member
edited October 11 in Reckon Accounts (Desktop)
Using Reckon Accounts Plus 2017

Comments

  • Robert Smeallie_9600650
    Robert Smeallie_9600650 Member Posts: 83 Novice Member Novice Member
    edited June 2018
    Hi Justin,

    You need to go to the Payroll Category List and make sure that the Superannuation Guarantee is set up as an item that is calculated as 9.5% of the Ordinary Time Earnings, so that if the Payroll OTE hours changes the Superannuation amount will change. You can set up the frequency of the payment of the Super and because it is based only on Ordinary Time Earnings then it is automatically limited to 152 hours a month based on a 38 hour week.

    When you set up the employees details there is a button that says Superannuation. When you click it you can choose the Superannuation Fund that the employee has nominated on their Employment Contract documents, filling in their membership number, name and address. That should answer your question.

    Robert Smeallie
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 823 Reckoner Reckoner
    edited April 2020
    Also on the super tab under employee details>payroll & compensation>super details you will see under the super item and type there is 2 tick boxes, one is for the threshold which is $450 per month has to be earned before super kicks in and another for "limit per pay period". If you enter your limit per pay period $$ value in the limit box and tick the box it will limit the super to the entered amount.
  • Justin Brooks
    Justin Brooks Member Posts: 2 Novice Member Novice Member
    edited June 2018
    thank you very much Robert - just a little error in the setup stage.

    Kind regards
    Janice
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