This article is for users wanting to setup a new Superannuation Fund.
This video covers:
- Creating a new superannuation fund
- How superannuation funds are linked to the employees' records
- Types of superannuation contributions
Details for all Superannuation Funds your organisation contributes to need to be
established in Wagemaster so that it can group the contributions and
make the required reports.
To set up a new Superannuation Fund record:
- Click Setup > Superannuation Funds.
- Click Add.
- The Add Superannuation Fund Details screen will be displayed. Complete all relevant details on each of the tabs displayed.
- General: Enter the fund's detail.
- Address: Enter the fund's addresses.
- Notes: Optional - Enter any comments you want to make about this fund.
- Contacts: Optional - Double click each of the headings to enter details about the contact person for that fund.
- Delivery Mode: Leave as default setting (Paper Report).
This is the method you use to send your super report to the super fund. This has been superseded by the Superannuation Clearing House facility.
- Bank: Leave as blank as now you will not be paying super direct to the super fund - you will be paying to Superannuation Clearing House facility.
- Payslip: If your employee is contributing extra super after tax (in addition to the Super Guarantee Levy), you can add a description instead of the fund name to show on their payslip. Check the Use Caption if you want this description to appear on the payslip.
- Employees: Leave as is. This will display a list of employees who are members of this fund once employees are linked to this fund during the employee setup process.
- Click Close to save the record.