Superannuation Guarantee Increase to 10%

megan_10040714

Hi Everyone

Is there quick way to update all employees superannuation guarantee to 10%. Have change the payroll item but employee files stays at 9.5%. Will we need to go into all of our employees cards to update individually? We have over 200 employees.

Also is there a report I can create in Reckon Accounts Hosted that will show the percentage of superannuation guarantee we can run to check all employees have had their file updated to 10%?

Rav

Hi @megan

The new 2021 release of Reckon Accounts Hosted coming in a couple of weeks will update the current default 9.5% to the new 10% rate.

EDIT -

Depending on your specific set of circumstances you may need to edit employee earnings such as the scenario Bruce has outlined in his comment below.

Acctd4

@Rav - That's great to hear !!!! 😊

Bruce

@Rav I have a number people whose remuneration is expressed as a package (which won't be changing at 1 July) meaning that their salary will go down whilst their sup'n goes up when we move to 10%.

I assume that I will still have to go through and manually adjust salaries for this group of employees.

megan_10040714

Thanks @Rav excellent news. Any idea when the new release will come out?

Thanks

Rav

https://community.reckon.com/discussion/comment/20618579#Comment_20618579

Hi Bruce,

In this instance, yes you would need to go in and edit the salary figure unfortunately. I'm going to edit my earlier response above as although the new 10% rate will be updated automatically in the new release, making changes/edits will depend on the specific set of circumstances.

https://community.reckon.com/discussion/comment/20618582#Comment_20618582

Its going through final testing right now so will get more info on the specific date after that's completed but it'll be the week after next. More info on this to follow though so stay tuned.

Tarah

Hi @Rav is there a quick way to update all employees superannuation guarantee to 10% in Payroll Premier? Or do we have to change each employee manually? We've done the update for 2021/2022 and in preferences it shows super at 10% but each employee still stays at 9.5%.

Rav

https://community.reckon.com/discussion/comment/20620990#Comment_20620990

Check out this help guide below for info on how to update the Awards in Payroll Premier -

https://help.reckon.com/article/8x6lqoqbu9-update-superannuation-amounts-in-awards