9.9.5 Superfund Provider Maintenance (09152m)

There are two ways a Superannuation fund may be utilised in the Muli payroll.

1. By establishing a Superannuation Fund (which will lead to Superfund Reporting)
2. By establishing a Direct Deposit Superfund transaction in which case there is no detailed Superfund reporting.

The next significant issue with Superannuation is there are three elements of Superfund payments.

1. (ES) Statutory Super Payments (Currently 9% in Australia) (A)
   Represented by Pay Sequences W001 - W998.
2. (SS) Salary Sacrifice (B)
   An employee may wish to pay into the Superfund from their salary thus reducing the tax obligation commonly referred to as Salary Sacrifice.
        Represented as Q001 - Q998
3. Employee After Tax (not entered, just distributed)

At times the calculation is determined by an EBA (Employee Bargaining Agreement)

Before a Superannuation Fund may be used it must first be set up as a Supplier in Organisation Master Maintenance [2.1] It is a 'supplier' because you are paying them money.  You will also need to make that Organisation (Super fund) a Supplier in Muli which is done under the 'Supplier' button in [2.1].  If you need to pay to this superfund by direct deposit it is essential that you enter all the banking detail in the Supplier screen and turn on Direct Deposit. If the fund will be using the payment method of Clearing or Group then the banking details are not necessary.

Superfund codes are needed when an employee is set up in the system. The superfund code is the organisation code which is made up of a six digit character to represent any superannuation funds that you pay into on behalf of your employees.

The program will display a list of current superfunds is displayed for you  to choose the one you want to edit. Once you select the fund you want then it is displayed with the items as listed below for you to select the one you want to change. You can only change the items from Super Fund Description and below.

If you want to Add a new fund then Click on the 'Add New' button to enter a new one.
The input required is:

2. Payroll Company
3. Superfund org
   The organisation providing the superannuation insurance should be already set up in [2.1] Organisation Maintenance and simply linked in here, do not forget to insert Direct Deposit Bank default for smaller providers.
4. Super Type (525)
   Payment to a superfund may be for various reasons and each type needs to be managed separately and accounted for.
   
   • Q1 - Member Salary Sacrifice
   • W1 - Company Superannuation Payments
   • T1 - Member After Tax and the employer may make additional payment
   • W2 - Company Topup (for additional benefit)
   • W3 - Company Health/Safety Continuance
5. Super Product id No (SPIN)
   All superannuation service providers (in Australia) have a SPIN number for their services.
6. Description
   (Use SPIN Description as applicable)
7. Policy Number(or employer number for services)
8. Pay Sequence
   Having entered a pay sequence, you are presented with a pop-up available superfunds which are set-up and linked to the pay sequence code.
   New Superfunds are set up in [9.9.5] after selecting the superfund, subsequent fields are populated and you will be asked for employee membership number.
9. Note - 502
10. Pay method - Group / Direct Deposit / Clearing House