Calculation method

F. Fixed Amount

Used for fixed dollar amounts.

Superannuation deduction

Automatically populated, based on the deduction type:

• U-type: "Yes"

  All U-type deductions are for superannuation.

• All other types: "No"

  Most other deductions are not for superannuation, except D-type.

  This field is enabled only for D-type deductions because you can use them for 'other member' and salary sacrifice superannuation deductions.

Note: If you change the Superannuation allowance field from "Yes" to "No", then Exolvo treats transactions for that D-type deduction as non-superannuation transactions. It does not look for Employee Super Funds records for those transactions even though some Superannuation Funds may use the deduction.

Bank account

Bank branch

Bank reference

Account name

Bank account that the deduction is direct credited to. These fields are enabled when Superannuation deduction = "Yes" or Details (iv) | Direct credit =“Yes”.

Exolvo uses the same validation process for these bank details as it does for bank accounts in other areas of the product. Exolvo uses the following hierarchy to determine the default bank account that it displays on the superannuation transaction form:

1. Employee Super Funds | Bank Details tab
2. Superannuation Fund | Bank Details tab
3. Deductions | Details (iii) tab.