SMSF Set-Up In Enterprise

Janice Bouquet

Hello,

I have a new employee who has a SMSF and I am unsure of how to set this up in our Reckon Enterprise 2022 system. We pay our super through the Australian Super Clearing House.

Attached is what I have filled out so far. Where do I add the bank account details and do I need to set up another payroll item in order to account for this correctly?

SMSF Query.docx

Thanks

Acctd4

Hi Janice

How you’ve set it up is correct ☺️

Do you upload an electronic (“SAFF”) file to AustSuper when you process your employee super or do you enter the amounts manually?

If you upload a file, you’ll need to create the SMSF as a “Supplier” - just as you would have done for any of the other Super funds - & this is where you would enter the fund’s bank details.

If you enter the amounts in AustSuper Clearing House manually, you would enter them on there instead 😁

Janice Bouquet

Hi Shaz,

Thanks for your reply. So, on my employees pay slip it just says Super (Quicksuper) and the amount. There is no mention of her SMSF - is this correct?

I upload a CSV file to the clearing house which basically is a spreadsheet of everyone's information. Do I load her details into that or do I make a separate payment?

You have probably answered these questions above, but I'm still unsure. I don't have any of the super funds in our Supplier Accounts. So I may need to enter them on my spreadsheet?

Thanks

Acctd4

Yes, you will need to add the SMSF bank details to your spreadsheet then.

The wording on the payslip comes from the Payroll Item name & the Payee. I find it’s best practice to have a separate Payroll Item per fund & type rather than all under a single, generic “Super”-named one eg

• AustSuper
• AustSuper (SS)
• Cbus
• AMP
• Colonial
• Meyer (SMSF) etc

This allows simpler tracking/reporting & also shows on the employee’s payslip accordingly ☺️

Janice Bouquet

Yes, everyone else has their respective funds on their payslip. So this will be something I add in my payroll item list?

If adding a new payroll item is what I need to do. Can I just copy previous settings as per all the others that are setup. Or because it is a SMSF, is there anything different I need to do?

Thank you

Janice Bouquet

Actually, I'm not sure from where the super fund information on the pay slips comes from?

Acctd4

“… Yes, everyone else has their respective funds on their payslip …”

So are you saying you do already have multiple ones set up then ???

If they’re all under the one “Super” Payroll Item, that’s what will show on their payslip, along with the payee name.

Yes, you can use the existing “Super” Payroll Item one as a guide to set up a new one - Just be sure the standard funds are marked as APRA (with their Member Number entered) & SMSF marked as that (with the fund Email)

Janice Bouquet

SMSF Payroll Items.docx

SMSF Payslip.docx

Examples of what we have.

Janice Bouquet

Hi Shaz,

I am finished at work now and do not work again till Wednesday. Can we resume then please?

Appreciate you assistance

Thanks