Creating a super fund and assigning to an employee in the Reckon Payroll App

Rav Administrator, Reckon Staff Posts: 16,007 Community Manager Community Manager
edited January 3 in Reckon Payroll 🚀

Creating a super fund and assigning it to an employee

An important part of the payroll process is the ability to assign your employee's choice of superannuation fund.

You can now set up Australian Prudential Regulation Authority (APRA) and self-managed type super funds in the Reckon Payroll App. Please ensure you have downloaded version 4.0.2 of the app or later from your app store in order to have access to this feature.

We have broken down this down into 2 really easy steps:

  1. Set up the Superannuation fund
  2. Assign the super fund to the employee

Step 1.) Setup superannuation funds

This is the superannuation fund (i.e. CARE, REST, Australian Super) which you pay the employee's super into.

To setup a superannuation fund go to Settings ➡ Superannuation Funds.

  • Click on the ➕ button and select whether the super fund is an APRA regulated fund or an Self Managed Super Fund (SMSF)
  • Fund Name - As you type in the fund name you'll be presented with a list of options to select from for the super fund and its respective fund products. Select the most appropriate option for your fund.
  • Display Name - Enter a display name for the super fund

Check out the video below for a demo on creating a super fund in the Payroll App along with how to make a request if the desired super fund is missing.

STEP 2.) Assign the super fund to your employee

After you have set up the super fund, you will then need to assign it to the employee. This is where you select the super fund product and super items for the employee to be used in pay runs.

  • Select an employee and tap on the Superannuation tab ➡ Edit ➡ Add Super Details.
  • Select the superannuation fund from the list, and then select the associated fund product. Enter the member number (if known) and the date when the employee joined the super fund.
  • Tick to assign the relevant super pay items (IMPORTANT)
  • The default system superfund is automatically assigned to all employees created in Reckon Payroll which can be removed after you've assigned a specific super fund to the employee.

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