Superannuation Guarantee Increase to 10%
Hi Everyone
Is there quick way to update all employees superannuation guarantee to 10%. Have change the payroll item but employee files stays at 9.5%. Will we need to go into all of our employees cards to update individually? We have over 200 employees.
Also is there a report I can create in Reckon Accounts Hosted that will show the percentage of superannuation guarantee we can run to check all employees have had their file updated to 10%?
Comments
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Hi @megan
The new 2021 release of Reckon Accounts Hosted coming in a couple of weeks will update the current default 9.5% to the new 10% rate.
EDIT -
Depending on your specific set of circumstances you may need to edit employee earnings such as the scenario Bruce has outlined in his comment below.
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5 -
@Rav - That's great to hear !!!! 😊
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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@Rav I have a number people whose remuneration is expressed as a package (which won't be changing at 1 July) meaning that their salary will go down whilst their sup'n goes up when we move to 10%.
I assume that I will still have to go through and manually adjust salaries for this group of employees.
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Thanks @Rav excellent news. Any idea when the new release will come out?
Thanks
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Hi Bruce,
In this instance, yes you would need to go in and edit the salary figure unfortunately. I'm going to edit my earlier response above as although the new 10% rate will be updated automatically in the new release, making changes/edits will depend on the specific set of circumstances.
Its going through final testing right now so will get more info on the specific date after that's completed but it'll be the week after next. More info on this to follow though so stay tuned.
ℹ️ Stay up to date with important news & announcements for your Reckon software! Click HERE for more info.
2
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