With the deadline of 28th July not far off... it's time to think about Superannuation. Processing Superannuation used to be a long, painful process... but now with Xero it's so SIMPLE!
Before you start you have to check a few things are set up correctly:
1. All employees have their details completed: Tax File Number, Name, Address, Date of Birth, Email address.
2. Go to Payroll Settings > Superannuation and add the USI and Super Fund names for the funds used by your employees
3. Add the fund and member number in each Employee Contact Card
4. REGISTER for Auto Super – this is done via the Payroll > Superannuation tab click ONLINE REGISTRATION FORM > complete the information and checklist and you’re ready go to!
Processing an Auto Super Payment is easy as 1.. 2.. 3..
1. 1. Go to Payroll> Superannuation > click Add Super Payment
2. Select the tick box next to all the payments due for that quarter > click Submit for Approval
3. (A code will be sent to the mobile number you entered when you registered for Auto Super) Click Authorise and enter the code.
BOOM! You’re done.. the magical Superannuation Fairies will take the money from your nominated bank account and deposit it to your employee’s respective funds and issue a contribution notification on your behalf.. ;)
Need help getting set up correctly so you can enjoy the simplicity of Auto Super? Touch base via our contact page here and we can help you get started!