How to set up a SMSF for Employee

Can someone please help me with what information I need to input in Reckon Hosted for a new employee who has a SMSF.

Do I need to enter anything under the Item Name and TYPE as shown on the screen shot below or just the other details under that?

I have the Fund ESA but not the Fund Scheme.

Also, I am unsure what the Employee Settings options are at the bottom. We are a small business so I pay super through the ATO Super Clearing House.

Thank you

Accepted answers

Zappy

You can call the fund scheme the name on the SPIN register

All comments

Zappy

You can call the fund scheme the name on the SPIN register

rabrro

Thanks, do you know if I have to enter anything in the Item Name and TYPE when its a SMSF?

Kris_Williams

You only enter super guarantee up the top, same as every other employee

Acctd4

You need to setup a Super Payroll Item for it which you would then add/select in the Item Name box.

As Kris said, it’s the same setup as a normal Super fund, you just need to select the SMSF option on that screenshot (which you have already done but it won’t retain it without a Super Item in there first)

The employee should have provided you with their SMSF details on their Super Choice form including the email address.

The fund email address is compulsory as this is it’s identifier, rather than the USI as required for the usual (APRA) funds ☺️

The fund scheme is an optional field.

Zappy

You need to check it is a complying fund if you are sending compulsory super payments to it. You should do this every year

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