How to Setup a Super Fund and Apply It to an Employee
Important! If this is the first Super Fund that is being setup, you must complete all steps. Otherwise start at Step 3.
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1 | TASS.web Payroll HRM > Payroll > Setup Information > Superannuation Funds on the 'Super Parameters' tab. | Enter superannuation parameters. Enter the minimum monthly and yearly earnings and SGC % amount. This needs to be done once only. | 🔲 | ||||||||||||||||||||||||||||||||||||
2 | TASS.web Payroll HRM > Payroll > Setup Information > Superannuation Funds on the 'Component Types' tab. | Check component types. A component is simply a method of contribution to a superannuation fund. You will need to create a component for each form of contribution made by the employer or employee to the fund: SGC, employer extra, salary sacrifice, employee after tax etc. The superannuation industry has defined components by type and these standard types have been pre-loaded for you. Whilst there are a number of standard types we recommend that you categorise your components using the following key types:
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3 | TASS.web Payroll HRM > Payroll > Setup Information > Payroll Setup on the 'Accrual Codes' tab. | Set up an accrual code for each employer component offered with the superannuation fund.
Accrual Parameter Options
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4 | TASS.web Payroll HRM > Payroll > Setup Information > Payroll Setup on the 'Paycodes' tab. | Set up a paycode for each employee component offered with the superannuation fund. The following setups are required for salary sacrifice contributions:
Paycode Parameter Options
The second optional paycode that you may need for this super fund is for member voluntary contributions (after tax payments). The setup for this type of paycode would be similar to above except:
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5 | TASS.web Payroll HRM > Payroll > Setup Information > Superannuation Funds on the 'Super Funds' tab. | Enter the super fund. | 🔲 | ||||||||||||||||||||||||||||||||||||
6 | TASS.web Payroll HRM > Payroll > Setup Information > Superannuation Funds on the 'Super Funds' tab. | Enter the component(s) for the super fund. Click 'Components' to open the 'Super Fund Components' screen then click the 'New Component' button. Components are defined as being of a type eg “SA” (SG Contribution). Each component is linked to either an accrual code (for employer contributions) or a paycode (employee contributions) and then based on a calculation method, either a percentage or a flat dollar amount. Where contributions for the same component type (eg. “SS” Salary Sacrifice) can be made as a percentage or as a dollar amount, then you will need to setup 2 components linked to the same contribution code (accrual code or paycode) When components are added they are automatically given a sequential component number starting at 1. For ease of data entry, we suggest you add components in the following order:
It is recommended that you add the first five components to every fund even if you do not currently have anyone making employer extra contributions. This provides consistency when adding super details to the employee record. As the Member Voluntary contributions are less common, only add them where needed. | 🔲 | ||||||||||||||||||||||||||||||||||||
7 | TASS.web Payroll HRM > Employee Information > Employees on the 'Super' tab. | Add employee superannuation details to the employee record. Multiple components may be added to the employee record. Eg: The employee has a SGC and Salary Sacrifice component. Important! You will not be able to delete a Component if the employee has transactions for it. You can make it inactive to stop future contributions. | 🔲 |