✨ What is the Colonial First State (CFS) clearing house offer for Reckon customers?
Reckon has partnered with Colonial First State (CFS) to give Reckon Accounts customers free access to the FirstChoice Employer Super Clearing House.
It is only available to Reckon Accounts Hosted, Reckon Accounts Desktop and Cashflow Manager customers.
✨ Do I need to switch to Colonial First State a my default fund?
You have the option to use Colonial First State as your default fund for your employees however there is no obligation to switch.
Please note: If you do not enter an employee's super fund details, the employee may be setup with a CFS account through the clearing house process.
✨ Why did I receive a welcome letter that mentions CFS?
The welcome letter includes information about CFS as the clearing house default fund. It does not mean you are required to use CFS as your default fund.
✨ What should I do if I want to keep using another fund?
You need to enter the correct fund details for each employee when adding them manually in the clearing house or ensure the correct USI is included in the SAFF file from Reckon Accounts that you upload to the CFS clearing house.
✨ What happens if I don't enter an employee's super fund?
If you do not enter an employee's chosen super fund, the employee may be setup with a CFS account.
✨ I used a previous clearing house, does that old clearing house's default fund setting carry across automatically?
No, do not assume a previous clearing house's settings or default fund will carry across automatically to CFS.
✨ What do I need to check when uploading a contribution file?
Make sure the correct USI is populated for each relevant employee before you submit the SAFF file.
✨ What do I need to check when adding an employee manually?
Check the Select a Fund field and choose the correct fund for that employee
✨ Why might an employee get a CFS account by mistake?
This can happen if the correct USI is missing from the uploaded SAFF file or if no fund is entered when the employee is added manually.
✨ What is a USI and why does it matter?
The USI helps identify the correct super fund when uploading files. Using the correct USI for the employee's super fund helps make sure contributions go to the right fund.
✨ What should I do before I submit contributions?
Review the fund details for each employee and confirm the correct fund or USI has been entered.
✨ I'm having trouble accessing links from the welcome email or links to get setup
If you run into trouble accessing any links from the CFS welcome email or links to get setup with the clearing house, then please try the following;
- Clear your browser cache and cookies
- Close and reopen your browser
- Try the link again
- Failing that, try the link in an incognito browser
✨ Questions?
Do you have a question that wasn't answered above? Create a new post by clicking HERE and we'll do our best to assist.
