Set up superannuation funds

The super funds your employees belong to need to be set up in MYOB. So in addition to setting up superannuation pay items, you'll need to:

1. add the standard and self managed (SMSF) super funds that your employees use

2. assign the relevant funds to your employees.

Adding a standard super fund

Standard super funds are those used by most employees. These funds are registered with – and regulated by – APRA (Australian Prudential Regulation Authority). If you need to set up a self-managed super fund, see the info in the section below.

1. Click the settings menu (⚙️) and choose Payroll settings.

2. Click the Superannuation funds tab.

3. Click Create super fund. The Create superannuation fund page appears.

4. Select the fund Type as Standard (APRA regulated). Standard funds are those registered with – and regulated by – APRA (Australian Prudential Regulation Authority).

   

5. Select the Fund name from the list. This is the name that's registered with APRA.

   • If a SPIN (Superannuation Product Identification Number) or USI (Unique Superannuation Identifier) exists for the fund, it will appear in the SPIN/USI field automatically. The Fund ABN for the fund will appear automatically as well.

     Can't find a super fund?

     It might be listed under a slightly different name than you're used to. In the Fund name drop-down, try entering and searching for the fund's SPIN/USI. You can also check our list of super funds to make sure the fund can be paid using Pay Super. Still can't find the fund? Contact product support.

6. Enter the Name you want to use for the fund within MYOB. For example, you might want to give a fund with a long or confusing name a shorter, clearer one.

7. If you have your membership number for the fund, type it in the Employer membership no. field. This is a unique employer identification number provided by some funds when you register an employee or group of employees.

8. (Optional) Click Add fund contact details to add the fund's Phone and Website details.

9. Click Save.

10. Repeat from step 3 for each additional standard fund you want to create.

Adding a self-managed super fund

If you've set up Pay Super, you can add a self managed super fund into MYOB. For standard super funds, see the info above.

1. Click the settings menu (⚙️) and choose Payroll settings.

2. Click the Superannuation funds tab.

3. Click Create super fund. The Create superannuation fund page appears.

4. Select the fund Type as Self managed super fund (SMSF). If you can't choose this option, make sure you've Set up Pay Super.

   

5. Enter the Name you want to use for the fund within MYOB. For example, you might want to give a fund with a long or confusing name a shorter, clearer one. (This is different to the fund's Fund name, which we'll get to shortly.)

6. Enter the Fund ABN and hit TAB. The Fund name will appear automatically. If it doesn't, check the ABN you've entered.

7. Select the fund's ESA from the list. This is the Electronic Service Address, and is used to send data messages to the fund about the contributions you make.

   Not sure which ESA to select? Check with your employee or the trustee/administrator of the Self Managed Super Fund. For more details on where to obtain an ESA, check the ATO website.

8. Enter the fund's BSB and Account number.

9. (Optional) Click Add fund contact details to add the fund's Phone and Website details.

10. Click Save. The fund now appears in the super fund list.

11. Repeat from step 3 for each additional SMSF you want to create.

Assigning a fund to an employee

Once you've added your employees' super funds into MYOB (see above for details), you need to assign the applicable fund to each of your employees.

You can select a super fund in the Payroll Details view of each employee’s record (Payroll menu > Employees > click the employee's name > Payroll details tab > Superannuation tab.)

You also need to enter the Employee membership number.

To complete superannuation setup for the employee, assign superannuation pay items to them to calculate and track their payments. Learn more about Superannuation pay items.

Editing or deleting a fund

Self managed funds can't be edited. Instead, you'll need to create a new self managed fund with the updated details and assign it to the applicable employees. You'll need to enter a different name in the Name field to the one use previously to be able to save the new fund.

To edit standard funds

Click the settings menu (⚙️) and choose Payroll settings then click the Superannuation funds tab. Click a fund to display its details, make your changes then click Save.

To delete a fund

A super fund can only be deleted if it hasn't had a payment made to it.

Click the settings menu (⚙️) and choose Payroll settings then click the Superannuation funds tab. Click a fund to display its details then click Delete. At the confirmation message, click Delete again.

To set a default super fund for your business

Every employer must have a default super fund (see the ATO guidelines about this). This is the super fund your employees can join if they don't already have one. It can be any complying fund that's registered by the Australian Prudential Regulation Authority (APRA). If you need help choosing a default super fund, ask your advisor.

Once you've decided on your default super fund, contact that fund to obtain an employer membership number. You can then add this super fund into MYOB, then set it as your default super fund.

To set your default super fund in MYOB

1. Click the settings menu (⚙️) and choose Payroll settings.

2. on the General payroll information tab, choose your Default superannuation fund.

3. Click Save.

If a new employee chooses your default fund, you'll need to contact the fund so they can allocate a membership number. Also see Adding an employee for details on setting an employee's super fund.