Superannuation limit setting - Reckon One

Peter LevyPeter Levy Member Posts: 3
edited September 2017 in Reckon One
I am trying to limit the super payments made in pay runs so they don't exceed the Super Guarantee thresholds. I have tried to do this by configuring Reckon One per below:

Under the Superannuation settings in Employees, I have set the Superannuation rate to be "SR" (Statutory Rate of 9.5%) and the "Limit" field to a defined value for the pay period. However when I create a pay run, this limit is ignored and I end up with the calculated Super amount being higher than the limit I have specified. Am I configuring things correctly or is there another way of setting the Super limits per pay run ?

Comments

  • Michael CorriganMichael Corrigan Member Posts: 70
    edited August 2017
    Before answering, can I ask why you are setting a limit. The SG should be 9.5 of regular salary and wages
  • Peter LevyPeter Levy Member Posts: 3
    edited August 2017
    I have set a limit as gross salary exceeds the ATO SGC threshold limits (ie > $211,040 for FY17-18).
  • Michael CorriganMichael Corrigan Member Posts: 70
    edited August 2017
    You may need to experiment a bit.  Try 211040, try 211040/pay periods per year, 211040 @9.5%, or 211040 @9.5% divided by pay periods per year.
  • Peter LevyPeter Levy Member Posts: 3
    edited August 2017
    Thanks - I have figured out I can just hard code the dollar amount per pay period instead of the 9.5%. This works. Not sure what the limit field is for though but not using it now. Thanks for your quick response.
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