You can easily create new superannuation funds using the Superannuation Funds form.
Four example superannuation pay items have been defined. 'Super, company contribution' is a company contribution, a benefit with a default calculation of a percentage of the pay that is liable to superannuation. 'Super, employee contribution' is an employee after tax contribution. 'Salary Sacrifice' is an employee before tax contribution. 'Super, reportable company contribution' is the excess of company contributions over the superannuation guarantee level.
In Kwik-Pay, the Salary Sacrifice processing is a little contrived. It has been defined as a 'Payment' type of pay item, so to reduce the gross salary by the Salary Sacrifice amount, you must enter the sacrifice amount as a negative. For example, to sacrifice $100 per pay, add a Salary Sacrifice pay item to the employee's pay with the cash over-ride amount set to -100.
All the predefined superannuation contribution pay items have been created with a 'SuperFund' property set to 'Default'. If you wish to handle multiple superannuation funds, create more superannuation pay items, using the existing ones as templates, but set the 'SuperFund' property to the name of the fund to be associated with the pay items. If you use the superannuation funds form on the view, setup menu, it will automatically create the pay items for you.
The example company contribution has been set up with a calculation type of 'SGC'. This will calculate the minimum contributions required.
If you wish to pay more than the statutory minimum, add two pay items to the employees pay: the standard company contribution which calculates the SGC minimum, add the reportable company contribution pay item. Edit the pay item to set the percentage rate at which it will be calculated. In the employee's pay, the reportable company contribution will be calculated as the percentage you specified, less the total calculated for the standard company contribution. Only the excess over the standard contribution is included in the employee's payment summary.
In Kwik-Pay, the pay liable for superannuation is identified by a 'Superable' property in the pay item set up. You will find that salary, ordinary pay and a number of other pay items already have the 'Superable' property.
The employee contribution, in this case is defined as cash, so you have to enter the amount to be deducted - you could change the calculation type to %Superable, or %Taxable if you wished.
The Superannuation Report prints a summary report of all company and employee superannuation contributions by superannuation fund. It can also create a diskette file of superannuation contributions to present to the Superannuation administrator.
On the Superannuation Report form, you can also request a superannuation contribution advice to be printed for all employees. This will list all the superannuation contributions calculated for each employee during a selected period.