Unreconciled Superannuation Contributions

When an employee earns less than the monthly minimum earnings in a Superannuation PTD, Exolvo still calculates their potential superannuation contributions and records these amounts against the Employee Super Fund. If that Employee Super Fund is deactivated before the employee reaches the monthly minimum earnings in that Superannuation PTD, then the potential contribution amounts remain recorded against the inactive Employee Super Fund, so they are unreconciled superannuation contributions.

If the superannuation contribution is a percentage (%), Exolvo automatically transfers unreconciled superannuation contributions to the new Employee Super Fund record when the employee's earnings exceed the monthly minimum.

Exolvo calculates and assigns superannuation contributions to the current Employee Super Fund records when all the following conditions are met:

1. The Superannuation Fund in an employee's Employee Super Fund record was changed or another record added during the Superannuation PTD period.
2. Before the employee’s Employee Super Fund changes occurred, their earnings in that Superannuation PTD period had not exceeded the monthly minimum earnings.
3. The employee has unreconciled superannuation contribution amounts for that Superannuation PTD.

However, if the superannuation contribution is a fixed amount ($) and the Employee Super Fund is deactivated before the employee reaches the monthly minimum earnings in that Superannuation PTD, then no reconciliation occurs. As a result, fixed amount ($) superannuation contributions are date effective.

Topic: 30732