PR - Superannuation Funds

This program is used to set up and maintain the background data required to operate the Superannuation sub-system. 

The best order to set the system up is to:

1. Enter the Superannuation sub-system parameters.
2. Define your component types.
3. Create your Superfunds.

1. Enter the Superannuation Sub-System Parameters

This defines the Super Guarantee Charge (SGC) minimum monthly and yearly earnings and the current percentage for the SGC.

Super Parameters Tab

Fields that require further explanation
SGC Minimum Monthly Earnings	This is the minimum monthly earnings that an employee must have before superannuation is accrued. Important! You should check if this applies to your school's employees.
SGC Minimum Yearly Earnings	This is the minimum annual earnings that an employee must have before superannuation is accrued. Important! You should check if this applies to your school's employees.
Default SGC %	This is the default Super Guarantee Charge (SGC), e.g. 11%

Contribution Cap Parameters Section

Fields that require further explanation:
Start P/E Date for the Super Contribution Year	This is Period End Date of the first pay run in the current Super Contributions Year, e.g. 01/06/YYYY. Superannuation Contributions are for the tax year are based on when the contributions are received by the Superfunds. Therefore, if you remit super contributions monthly after the end of the month, then this date would be the date of the first pay run in June
Contribution Types for concessional contributions	This field is mandatory when the 'Date' field above is populated. Select the component types from the picklist provided. Only component types that have been used on 'Fund Components' will be available for selection.
Contribution Cap Amount	This is published by the ATO. For the 2022/2023 and 2023/2024 years, this value is: $ 27,500.
Early Warning Amount	Enter an amount that is below the Contribution Cap amount above, e.g. $ 20,000.00

2. Define Your Component Types

A component-type is a way in which a contribution can be made to a superannuation fund. 

Components Type Tab

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 etc.

The industry has defined components by type. Whilst there are a number of standard types we recommend that you categorise your components using the following key types:

When you set up a component it has to be set up against a component type. 

Component types are used by program Payroll HRM > Payroll > Listings & Reports > Super Remittance File/Report to collate the contribution amounts.

3. Create Your Superfunds

Super Funds Tab

Use this tab to create and edit super funds. This is also used to add components (that are set up on the 'Components Types' tab of this program) to super funds.

Adding a New Superfund

To add a new Superfund, click the 'New Fund' button to display a blank 'Superannuation Fund Details' screen.

When satisfied with your entry, click the 'Save' button to commit your changes to the database or 'Cancel' to return to the selection screens.

Viewing and Editing a Superfund

To 'View' or 'Edit' a Super Fund, click on the associated link next to the relevant super fund.

When satisfied with your entry, click on the 'Save' button to commit your changes to the TASS.web database.

Superannuation Fund Details

Fields that require further explanation
Fund Code	This 3-character unique code to be used for this super fund, e.g. ISS.
Fund Name	A 60 character description for this Super Fund. For example, 'The Independent Schools' Superannuation Trust'.
Fund ID	This is a 30 character maximum code that is used to identify the Superfund. Important! This field would be mandatory where the Remittance File format designated by your Default Fund or Clearing House requires a unique Fund Identifier other than the Fund USI or Fund ABN. Consult your Default Fund or Clearing House provider if unsure. Care should be taken when entering data into this field. If entered, this data may be used to identify the Super fund when submitting a Superannuation Remittance File to your default fund or clearing house.
Fund USI	This is a 30 character maximum field for the Unique Superannuation Identifier (USI) for the Superfund or Fund Product.  With the introduction of the SuperStream Data Standard from 1 July 2014, this field should be entered for all funds other than Self Managed Super Funds (SMSF). Important! This field must be left blank for Self Managed Super Funds (SMSF) as they are not allocated a USI. Care should be taken when entering data into this field. This USI data may be used to identify the Superfund when submitting a Superannuation Remittance File to your default fund or clearing house.
Fund ABN	This field can only accept a valid ABN (Australian Business Number). With the introduction of the SuperStream Data Standard from 1 July 2014, this field should only be entered for Self Managed Super Funds (SMSF). Important! This field is only used for Self Managed Super Funds (SMSF). Care should be taken when entering data into this field.  This ABN data may be used to identify the SMSF when submitting a Superannuation Remittance File to your default fund or clearing house.
Fund SFN	This is a 30 character code for recording purposes only.
SGC Minimum Period	This is used to indicate to the system whether to use the monthly or annual minimum threshold for calculating Superannuation for an employee. These thresholds are maintained on the 'Super Parameters' tab in this program.
Supplier	Nominate a supplier code (from Accounts Payable module) for this Superfund.
Default Fund	Indicate if this is the default (main) fund that you will use for most employees.
Active	This checkbox defaults to being checked. Untick it if this fund is no longer used.
Comments	This is an optional field.  It could be used for recording the employee's name for a self-managed fund.
Self Managed Super Funds (SMSF) Section Important! These fields are only relevant for SMSF's. They will only be available where the ABN of the SMSF has been entered in the 'Fund ABN' field above and the 'Fund USI' field is blank.
BSB Number	This is an optional field. Enter or lookup the BSB number of the SMSF.
Account Number	This is an optional field. Enter the bank account number of the SMSF.
Account Name	This is an optional field. Enter the bank account name of the SMSF.
Email Address	This is an optional field. Enter the Email address for the SMSF.
URL / IP Address	This is an optional field. Enter the URL or IP address for the SMSF.

Adding a New Super Fund Component

To add a new Super Fund Component, click the 'Components' button to display any existing components for your selected fund.

Click the 'New Component' button to display a blank 'Super Fund Component Details' screen.

When satisfied with your entry, click the 'Save' button to commit your changes to the database or 'Cancel' to return to the selection screens.

Components are defined as:

1. Being of a type (above), e.g. 'SS' (Salary Sacrifice).
2. Linked to either an accrual code (for employer contributions) or a paycode (employee contributions).
3. Based on a calculation method, either a percentage or a flat dollar amount.

Where contributions can be made as a percentage or as a dollar amount (e.g. salary sacrifice) then you will need to define a separate component for each payment.

When components are added to a fund they are automatically given a component number; the first one entered is number 1, the second number 2, etc.

For ease in data entry, we suggest you add components in the following order:

1. Employer SG Contributions — percentage.
2. Salary Sacrifice — percentage (pre-tax).
3. Salary Sacrifice — dollar-based.
4. Member's Regular — percentage (after-tax) (only where required).
5. Member's Regular — dollar-based (only where required).
6. Employer Extra — percentage (only where required).
7. Employer Extra — dollar (only where required).

It is recommended that you add components 1,2,3,6 & 7 to every fund even if you do not currently have anyone making after-tax payments. This provides consistency when adding super details to the employee record.

As the 'Member's Regular' and 'Employer Extra' payments are less common, only add them where needed.

To add or edit a component type use the 'Component Types' tab. 

The component 'Code' is a 2 character field and the 'Description' is a 100 character field.

Viewing and Editing a Super Fund Component

To 'View' or 'Edit' a super fund component, click on the 'Edit' link next to the relevant component.

When satisfied with your entry, click on the 'Save' button to commit your changes to the TASS.web database.

Super Fund Component Details

Fields that require further explanation
Component Type	Select the component type from the dropdown list. Component types are set up and maintained on the 'Component Types' tab in this program.
Description	A 100 character description for this component type. The system will automatically default this to the description on the component type. This can be overridden or edited.
Contribution Type	Selecting 'Employer Contribution' will indicate to the system that an accrual will be raised. This will automatically set the field directly below to 'Accrual code'. SGC would be an example of an 'Employer Contribution'. Selecting 'Employee Contribution' will indicate to the system that a payroll deduction (through a paycode) will be raised. This will automatically set the field directly below to 'Paycode'. Salary sacrificed superannuation would be an example of an 'Employee Contribution'.
Accrual Code/Paycode Code	Select the accrual code to use for employer contributions or Select the paycode to use for employee contributions. Using SGC as an example you would use the accrual code that has been set up for the compulsory employer contribution using program Payroll HRM > Payroll > Setup Information > Payroll Setup on the 'Accrual Codes' tab. Using an employee salary sacrifice as an example you would use the paycode that has been set up for the salary sacrifice using program Payroll HRM > Payroll > Setup Information > Payroll Setup on the 'Paycodes' tab.
Calculation Type	This indicates if this component is to be dollar or percentage-based. For the SGC component, you would enter 'Percent' in this field and '0.00' in the 'Component Value' field. The system will then use the percentage that has been entered in the 'Default SGC %' field on the 'Super Parameters' tab in this program. For all other components, you can select for the calculation to be either 'Dollar' or 'Percentage' based.
Component Value	Based on your selection above enter either a dollar or percentage value. For the SGC component, you would enter '0.00' in this field.  The system will then use the percentage that has been entered in the 'Default SGC %' field on the 'Super Parameters' tab in this program.
Check SGC Minimum	This checkbox is used to indicate if the minimum threshold (set up on the 'Super Parameters' tab in this program is to be used for the calculation of super for this component.
Active	This checkbox defaults to being checked. Untick it if this component is no longer active. Important! If a component has been used by the system for a pay run then it cannot be deleted.  If you don't want it to be used anymore the only option is to make it inactive.

Important!

Where contributions will be made as a percentage for some employees and as a dollar for others (e.g. Salary Sacrifice) you will need to define a separate component for each calculation type.  

Note: You can create two components using the same 'Component Type' and 'Accrual/Paycode combination providing the calculation type is different.

If a component is in use, the following fields cannot be updated:

• Accrual Code/Pay Code.
• Calculation Type.
• Check SGC Minimum.
• Active.

Printing super fund component details

The 'Print' button on the 'Super Fund Components' screen provides:

• A listing of all components for the fund you have accessed.
• A listing of employer components only for the fund you have accessed.
• A listing of employee components only for the fund you have accessed.
• A breakdown of all employees within components for this fund.