Superannuation Payable - Secure Super with Ease

Superannuation Payable Overview

Superannuation is both a compulsory and voluntary system of attributing a percentage of your income into a fund – or in some tax jurisdictions referred to as a pension fund – to support your financial needs after retirement. Your funds are typically invested in a range of assets, equities, listed property trusts, treasuries, bonds and cash etc. to help grow your balance so you can have the best possible outcome in retirement. The SapphireOne Superannuation Payable feature provides a facility to view and manage your organisations Superannuation payment status and requirements for all employees.

This feature is located at Payroll > Payroll > Superannuation Payable.

Substantial changes have been made to the Superannuation laws over time in Australia and internationally. Please check the laws of your relevant Tax jurisdiction and/or with your accountant for the current reporting and payment periods applicable to your organisation within the particular Tax Jurisdiction you may be operating within. You have the ability to run unlimited companies and tax jurisdictions within your SapphireOne data file. 

It should also be noted that the reporting and payment periods will also vary from company to company and that Superannuation Payments are set up in an Employee Inquiry. 

Superannuation Payment Procedure

There are two options to pay superannuation. 

1. Go to Accounts > Payables > Payments and use the procedure as documented in the Accounts Reference article. The procedure for making these payments is the same for all Vendors. The documentation for this procedure can be found in the Vendor Payment article.

   When using this method the user will have to make the payments on an employee by employee basis. Each employee has a superannuation vendor and payments are allocated the same as payments to any other Vendor in SapphireOne. Vendor Invoices are created when the transactions are processed. These same Vendor Invoices will be created when the user selects the Process Payment button when using the second method here as documented below. 

2. Use the Pay Superannuation option from with Payroll/HR itself – Using this method the Payroll department has three options in paying superannuation. by Super Fund, by Employee or by Pay Run Number. These options are accessible from the drop-down menu in the top left hand corner of the screen.

Payment by Super Fund

This is perhaps the most common method of payment as all payments to each super fund are consolidated and a single payment is made to each fund and then split up on an employee by employee basis. 

Payment by Employee

When Payment by Employee is selected and an employee is selected/highlighted in the top list window SapphireOne will display the total owing in superannuation for the employee. The lower list displays all individual amounts raised on a Pay by pay basis. The process for the selection of what to pay is then the same as for paying to a Superannuation fund as documented on the previous page. 

Payment by Payrun

When Payment by Payrun is selected SapphireOne will display each Pay Run in the top window with the gross totals. Once a Pay Run is selected the individual amounts for each employee are displayed in the lower window on an employee by employee basis. 

Common Rules

• The Mark/Unmark buttons provide the user with a quick means of making some common selections. These buttons only work when an item in the lower list is selected.
• Selection of the radio button determines if the payments are to be merged and totalled in to a single payment. (Payment by Parent, Payment by Vendor or Payment by Transaction).
• Once the Process Payment button is select the payments will be processed by the creation of the applicable VI’s in Accounts mode. 
• The transactions if created from this window must be posted in Accounts mode. 
• You may select the Superannuation to be paid by individually selecting the checkboxes in the Pay When Process column or alternately using the Mark/Unmark buttons to batch select/deselect records as required.
• The upper window displays the totals currently owing for each superannuation Vendor while the lower list displays the amounts raised for each employee on a pay by pay basis. 
• By default, the Superannuation Fund’s total unpaid accrual is displayed. This can be broken down by Employee or Pay Run with the use of the drop-down menu. 

When using the bulk marking buttons to select items for payment SapphireOne may not have enough screen real estate to display the complete list in the lower window. The user should always scroll down through the list to make certain that all items have been marked correctly. 

Generating EFT file for Superannuation from Payroll/HR mode

The generation of Payments and an EFT file for these payments in SapphireOne is a two-step process. 

1. In Accounts mode the process is partially automated in that the selection of the Print option results in SapphireOne automatically suggesting the selection of a bank account to use when generating the EFT file.
2. Then selecting a bank account automatically displays a screen with the generation of an EFT file as one of the options. 

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