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Confirmation Of Superannuation Settings 

Before the optional ATO Payment Summary Production and STP mark Final Pay, it’s important to
check your configuration of both:

  • Ordinary Time Earnings (OTE) calculated for employer Superannuation Guarantee Contributions (SGC). 
  • Reportable Employer Superannuation Contributions (RESC) on employee salary sacrifice and qualifying additional employer superannuation contributions. 

Ordinary Time Earnings 

When you activate STP Reporting in the new year, Wagemaster supplies the ATO information on your OTE and also on your superannuation guarantee obligations. 

Thus now, before your end of the year, it’s a good idea to check each of your Awards’ Superannuation Guarantee settings to ensure that the correct OTE pay components have been included in the superannuation calculation parameters to date. 

  1. Navigate to Setup > Awards.
  2. Within each Award navigate to Payments > Superannuation to check that the correct Payment Conditions have been selected. The quarterly super cap amount changes every year and you can find the updated amount on ATO's website. Check the cap amount for the year ($57,090 for 2020/2021) and relevant gross pay over for the month. 
  3. If you discover some Payment Conditions are incorrectly configured, this has implications for your Superannuation Guarantee payments for the year to date, implying an overpayment or underpayment of superannuation. Contact Customer Support for assistance in how best to identify the scale of the discrepancy and its resolution.

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Run The Following Reports

  1. Run A Super By Department Report for Reportable Superannuation Contribution (RESC).
  2. Run A Super Audit Report to audit the award details.
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