Get SuperStream ready. 3 days’ work is now 30 minutes

PaySuper_blog

UPDATE: The ATO are currently sending business owners a flyer on how to prepare for SuperStream. Our compliance update for AccountRight, available from late June 2014, includes a Pay Super feature that enables your business to be SuperStream ready when required by the ATO. You can get the latest update here.

In my previous blog post, I explained what SuperStream means for business owners. In a nutshell, SuperStream is a new process that business owners have to comply with when making superannuation contributions for their employees.

Recently, the Australian Taxation Office (ATO) announced it has extended deadline for business owners to comply with SuperStream.  Businesses with 20 and more employees will have until 30th June 2015 to comply with the new SuperStream requirements. Businesses with less than 20 employees will have until 30th June 2016 to comply.

Turn days into minutes every time you pay super 

MYOB will be releasing a Pay Super feature in the AccountRight  payroll command centre called “Pay Super” in June. It’s free for customers with a subscription, there are no limits on the number of employees paid or transactions, and it will be SuperStream compliant as and when required by the ATO.

If you’re still manually calculating or paying your superannuation obligations, it’s time to stop. You could be eliminating days of work just by using an accounting software with payroll and integrated SuperStream services, such as AccountRight with Pay Super.

An integrated software should do all the heavy lifting for you – paying the individual employee superfunds and complying with SuperStream. I’ve drafted a comparison table on how much time you are really saving if you’re using an integrated SuperStream compliant software.

 

Don’t use any software Use only payroll software  Use AccountRight with payroll and Pay Super 
Time Taken:   1-3 days Time Taken: 1-3 hours Time Taken: 10-30 mins
Work out payroll manually Generate the payroll Generate the payroll
Work out the super and PAYG liabilities manually Generate the Payroll Super report to work out the super and PAYG obligations.  Generate the Payroll Super report to work out the super and PAYG obligations. 
For each employee:

  • Work out the super guarantee and salary sacrifice super amounts
  • Complete the Superfund Contribution Report

 

Ensure the Superfund Contribution Report complies with the file format of each Superfund/clearing house Check and verify amounts.
Pay Super by:

  • Mailing cheques or
  • Paying electronically

 

Submit the report online.*This could be the default fund super fund or perhaps a clearing house. Authorize and super is paid automatically
Mail the Superfund Contribution Reports to each Superfund. Pay Super electronically 

*Time saving estimates based on research across 5 businesses with up to 150 employees.

AccountRight Pay Super

A sneak peek of AccountRight Pay Super

AccountRight SuperStream

AccountRight Pay Super

 

Important dates concerning SuperStream

What’s happening? Date What does this mean for my business?
Release of MYOB AccountRight “PaySuper”*MYOB Essentials and AccountEdge will have “PaySuper” by the latest 30th June 2015 June 2014 Stop paying super manually and save time and money
SuperStream is now mandatory for businesses with 20 and more employees. 1st July 2015 If you do not use a SuperStream compliant service/product to pay your superannuation contributions, you could be fined by the ATO.
SuperStream is now mandatory for businesses with less than 20 employees. 1st July 2016 If you do not use a SuperStream compliant service/product to pay your superannuation contributions, you could be fined by the ATO.

 

Subscribing or upgrading your MYOB software will ensure your business is always compliant with tax changes, including the government’s new SuperStream system for paying super contributions.

  • Mark

    Will the new PaySuper feature also be added to AccountRight Enterprise in June 2014? If not, when?

    • http://myob.com Aishah Mustapha

      Hi Mark,

      No we won’t by June 2014. But as the deadline is a year away, we will have a solution for you before that.

      Thanks,
      Aishah

    • Richard Puffe

      Hi Mark,

      If you want to get the benefits of lodging your super electronically, you can subscribe to M-Powered Super which can be used by AccountRight Enterprise (v19). It is similar to the new Pay Super feature, however this service will not be SuperStream compliant and will be decommissioned 30th June 2015.

      Unlike Pay Super, there is an employee charge for using M-Powered Super of $3 per employee per quarter per fund. Please refer to the PDS for further information.

      Thanks
      Richard Puffe
      MYOB Product Manager – Compliance

  • Cat

    Do you need to have MPower product inorder to use the Pay Super function?

    • http://myob.com Aishah Mustapha

      Hi Cat,

      The Pay Super function is a replacement for M-Powered Super. It’s a free service for AccountRight Live subscribers.

      Cheers,
      Aishah

  • Lynette

    Exactly what date will I be able to update my current AccountRight Plus v19.9 annual subscription to include Pay Super? Will there be a fee paid to MYOB for using Pay Super?

    • Richard Puffe

      Hi Lynette,

      The MYOB Pay Super feature is for AccountRight (2014.3 onwards) and is free for businesses who have a current, paid up subscription.

      For businesses using AccountRight v19.9 / 19.10, can continue to use or sign up in June to use the M-Powered Super feature to electronically pay your super obligations until 30th June 2015. There is a cost for the use of M-Powered Super and they are detailed in the Product Disclosure Statement. The employee cost for a business on cover is $3 per employee per fund per quarter.

      Further information about M-Powered Super and the PDS can be found on the MYOB website.

      Thanks
      Richard Puffe

      • Terri Waters

        Hi Richard,
        If I’m using MYOB v 19.9, how will I comply with the requirement to send the super data electronically? Are there any service providers that can be used to send the data electronically?
        Thanks
        Terri

      • Khundry Kumulia

        Hello Richard, I am using Account right plus 14.3. When I clicked on the “Pay Superannuation” button, it directed me to a website and gave the following message “Congrats! Your bank account’s been verified.
        We’re working on connecting the service, which will be available for your first super payment in the new financial year.” When is the service going to be enabled? Thanks.

  • Jen

    Will this feature be available for AccountEdge users? If not, when?

    • http://myob.com Aishah Mustapha

      Hi Jen,

      As the deadline has been extended by the ATO for businesses, AccountEdge will have Pay Super by 30 June 2015

  • Rudy Gunawan

    Excellent explanations, it helps to explain the details. Thanks Dean!

  • Mary

    I am currently using the ATO Superannuation Clearing House, will Pay Super be linked to this.

  • http://www.mtsylviadiatomite.com Ian

    Just to be clear here. As a user of your M Powered system to pay super currently, I’ll be able to continue to use this service until June 30 2015?

    • http://myob.com Aishah Mustapha

      Hi Ian,

      Yes, you’re right. Don’t worry, we will announce any changes or updates ahead of time. Thanks for your support.

      Cheers,
      Aishah

  • Julie Hawken

    How does the fund know the breakdown of payment, do we still have to process contributions online on each fund website..??

  • Cass

    Hi,
    I read in the comments that m-powered super is being decommissioned in 2015. Do they also expect to decommission all m-powered services at the same time? I would like to move over to the live option but cannot as yet due to my use of the m-powered services. Do I need to wait another 12months before I can expect to upgrade?

    • http://myob.com Aishah Mustapha

      Hi Cass,

      It’s just M-Powered Super as all businesses need to compliant with SuperStream from certain dates. Our “Pay Super” feature will be SuperStream compliant as and when required by the ATO, and is part of the live version of AccountRight. You can upgrade anytime you want. The choice is yours. Thanks for your question.

      – Aishah

  • Eve

    Question- How does Pay Superannuation work when you also have contractors that we pay super for ?

  • Alison

    I’m confused with all the MYOB new naming for starters! I wish you’d stayed with MYOB. : (
    Please confirm when Pay Super will be available for AccountRight Premier.
    It sounds like it will be a great resource (unusual for a gov’t directive) :)

    • http://myob.com Aishah Mustapha

      Hi Alison,

      Our latest update (AccountRight 2014.3) has been released with the Pay Super feature. If you are using the Live version of AccountRight Premier, you should be getting the update. Thanks

  • Diana Rasbid

    Just wondering if the PaySuper Feature will be available in AccountRight Premier V19.10 by end of June or will we have to cool our heels and use M-Powered until the end of next financial year?

    • http://myob.com Aishah Mustapha

      Hi Diana,

      Right now, we’re planning to release Pay Super for the latest AccountRight. For older versions, we won’t be releasing anything by end of June. I suppose that means it’s best for you to continue using M-Powered for now. We will announce any updates closer to the date. Thanks!

      Cheers,
      Aishah

      • Garry

        Hi Aisjah,

        My understanding is that ‘Pay super’ will not ever be available for MYOB version 19.10, or Accountright Enterprise. Is this correct.

      • http://myob.com Aishah Mustapha

        Hi Garry,

        No, we won’t be releasing a “Pay Super” feature for v19 and AccountRight Enterprise. When your business needs to be compliant with SuperStream, you will need to migrate to AR Live or use a 3rd party SuperStream service. Thanks

      • Deb

        Hi there
        I am totally confused by these comments. When you refer to the ‘latest’ version of AccountRight what exactly do you mean? We use AccountRight Premier V19.10 – which I believe is the ‘latest’ version of this software. Will AccountRight Premier V19.10 be made SuperStream compliant or will we need to migrate to a different MYOB product. If we do need to migrate to which product that can support mulitple users? Thanks!

      • http://myob.com Aishah Mustapha

        Hi Deb,

        Sorry, I should have made it more clear. The latest live version of AccountRight has the “Pay Super” feature, a SuperStream product. For AccountRight Premier, that would be v2014.3. We’ve released it last week to clients.

        We won’t be introducing “Pay Super” in older versions. When your business needs to be compliant with SuperStream, you will need to migrate to AR Live or use a 3rd party SuperStream service. Hope that’s clear. Thanks for asking.

        Cheers,
        Aishah

  • Janet

    Will you be able to pay SMSF funds through Pay Super

    • http://myob.com Aishah Mustapha

      Hi Janet,

      The first release of “Pay Super”, a SuperStream product released last week, does not have the ability to pay SMSF. However, once SuperStream becomes a requirement, this feature will be enabled. SuperStream will only be mandatory for businesses with 20 or more employees starting from 1st July 2015. For businesses with less than 20 employees, the date is 1st July 2016.

      Thanks,
      Aishah

      • David Power

        Whilst I note the deferral dates that the government allowed businesses were allowed to convert to the superstream system before then and the advice given was that the Account Right 2014 program was compliant.
        We have over 20 employees and I have worked through your guides, specifically the setup super funds and categories, and cannot see any link or direction on how to setup the self managed super funds, so that we can still make manual payments even, with the payroll system.
        I was directed to this blog and still cannot see the instructions.
        Please advise.

        David.

      • http://myob.com Aishah Mustapha

        Hi David,

        Sorry but I’d have to redirect you (again) to the community forum. We have a tech support team answering queries there. I have some knowledge of PaySuper but I’d rather leave it to tech support. Also, they’ve answered a lot of queries on the forum for our PaySuper feature, so you might find an answer there already.

        Go here: http://community.myob.com/t5/Staffing-and-payroll/bd-p/Staffing_and_Payroll

        Hope that helps.
        Thanks!
        Aishah

  • Sheryl Brown

    So in a nutshell – V19.10 and lower are not superstream compliant?

    • http://myob.com Aishah Mustapha

      Hi Sheryl,

      No, they won’t be. “Pay Super” will only be in AccountRight v2014.3 and above. MYOB Essentials and AccountEdge will have SuperStream feature next year.

      Thanks,
      Aishah

  • Jenny

    Hi I am using Account Right Plus V19.10. can I upgrade to use the super stream, pay super? if so is it going to be an automatic update, or do with have to down load it.

    • http://myob.com Aishah Mustapha

      Hi Jenny,

      Pay Super is only available on the Live version of AccountRight Plus. When your business needs to be compliant with SuperStream, you will need to migrate to AR Live or use a 3rd party SuperStream service.

      Thanks,
      Aishah

  • Mary

    has anyone upgraded from AccountRight v19.10 to verson with Super Stream, any problems?

    • http://www.ausmanagement.com.au Pam Chilman

      Hi Mary and others,
      We used the SuperStream feature in MYOB V2014 this month to pay our employees super – it worked really well, just required a bit of set up to ensure all the required fields were complete and some time to ensure we went through all processes correctly. It is worth getting set up now in time to be compliant, plus saves a heap of time by picking up the data from within our existing pay runs – highly recommended having paid super a number of different ways over the past 20 years.

      As an MYOB CC Partner we have now set up a number of our clients as well as our own datafile, and the issues are mostly due to wrong or missing information in the clients MYOB datafile. Also some employees might have funds that are not yet on the MYOB list of Super funds, but could be due to them not yet being compliant, so contact MYOB to see if they are ready to be added to the list, and SMSFs are due in an upcoming release.

      We are running one hour webinars (including recordings) specifically on setting up and ensuring a smooth transition to Superstream using MYOB – contact me if interested on 02 6215 9710 or via our website on http://www.ausmanagement.com.au

  • Joanne

    I used your ‘Pay Super’ for one employee (myself) as a test run on 22/8/2014 prior to 4:pm as I finish work at this time. I believe your cut off for the day is 5:30pm. On checking my CBus account again today 29/8/2014, the funds still did not appear. The funds were taken from our bank account on Tuesday 26/8/2014. On phoning MYOB earlier today, I was advised that you have requested a cheque today to be sent to Cbus when it is produced. I could have paid the amount to CBus myself electronically on 22/8/2014. I have been advised that you will be electronic prior to legal obligations of 1/7/2015. As I understand it, businesses with excess of 20 employees, were required to be on-line by 1/7/2014. Therefore, one would presume you have this service available to them. Why can smaller business not be linked to this service (if it is available)? The time frame does not appear at all satisfactory. I welcome your feed back.

  • Trish

    We cannot use the MYOB superstream as it is not compliant with our not-for-profit regulations and we have no mobile reception to receive the sms messages.
    We therefore use the superstream provided through our usual superannuation fund and process payments through ‘pay liabilities’ as we did in the past.
    The only problem is that on employees payslips it now has their super fund as our superstream provider and not their nominated superannuation fund which has been a bit confusing.
    Is MYOB planning to correct this problem for businesses not using the MYOB superstream?

  • EVA

    Few of our employees do have SMSF. We would like to know how we can manage it via AccountRight, as those funds do not have a SPINs – it is now ATO’s requirement that all payments are send out electronically. How/when AccountRight will be compliant with those requirements?

    • Steven Wright

      Hi Eva,
      Our development team is currently working on the ability to use Pay Super to make payments to SMSFs. A release date to be confirmed. That said, you’ll be able to use Pay super to make payments to employees’ SMSFs before the ATOs superstream requirements kick in on 1st July this year.
      I hope this helps,
      Steve

  • Belinda

    Many superstream clearing houses are charging to use their service. Is MYOB charging an additional amount to use theie superstream function?

    • http://myob.com.au Steven Wright

      Hi Belinda,
      SuperStream will be included in your MYOB Essentials or AccountRIght subscription (or for AccountEdge, included in your cover).
      Regards,
      Steve

  • Merryl

    I would really like to attend a seminar on this. Does anyone know of any happening in South East Queensland?

    • Steven Wright

      Hi Merryl,

      Right now, we’re a couple months away from offering training on this, but we do plan on delivering some in the future. That said, we’ve put together this page http://help.myob.com/wiki/display/ar/Paying+superannuation – I hope this can help for now.

      Regards, Steve

  • Susan

    Hi, I am using AccountEdge Network Edition V13.5 Release 17.4.1E, will you be doing a Pay Super upgrade for this, and if so when? Thanks Susan

    • Steven Wright

      Hi Susan,
      We will have a SuperStream compliant solution available with the 2015/16 compliance release for AccountEdge users. To take advantage of paying and reporting super electronically with MYOB, you’ll need to have a cover membership, and install the compliance release due out at the end of June. We’ll be letting everyone know of its availability via email when it’s ready. Regards, Steve

      • Vicki

        Is there gong to be a compliance update for Account Right Plus v 19.10 too. I was told today on MYOB live chat that I would have to go Account Right Live to be compliant. I was told that there is no third party Superstream service I can use yet I see it mentioned here. I have been advised that our internet being as unreliable as it is make the live version frustratingly slow.

      • Steven Wright

        Hi Vicki, yes, that’s right – what you were told is correct. People who use older versions of our software (such as AccountRight v19) will have access to the online SuperStream portal, if you have an MYOB subscription (i.e. MYOB Cover). That said, newer versions of AccountRight can work both online and offline, so, if you’re internet connection is flakey, you can still get by using the work offline functionality, which will also include the SuperStream functionality. I hope this helps clarify. Regards, Steve

  • Susie

    We currently use AccountRight v19 which is also linked to LEAP software. Can this be upgraded to incorporate payroll and SuperStream?

    • Steven Wright

      Hi Susie,

      I’ve asked the product team for some specific help on this, but given the detailed nature of the response, I’ll forward on your details and they can contact you directly (via the email you used to comment).

      Regards, Steve