Superannuation Update Tool

The Superannuation Update Tool automates the process of updating Employee Super Funds | Allowances tab | SG/Award - Employer (%) contributions only. It simplifies and speeds up the process of updating Superannuation Guarantee contribution values to meet legislative requirements for employers.

Important: The Superannuation Update Tool command is displayed only for users who have the Supervisor checkbox ticked in their User Profiles record.

The tool identifies employees who need to have their SG/Award - Employer (%) contributions updated to meet the new required minimums. For each Employee Super Funds record that requires updating, the tool does the following based on the Application Date that you enter and the Start date of the Employee Super Funds record:

1. Updates the SG/Award - Employer (%) value of the 'current' Employee Super Funds record

   or

2. End dates the old record, and then models it to create a new record with the new contribution value. For further details, see Superannuation Update Tool - Update Details Process.

   Note: The Superannuation Update Tool will produce a warning if no valid pay period (PTD) record is found.

We strongly recommend that you run the tool using the Run Report Only button until you are satisfied with the results in the audit log; only then should you run the tool using the Update Details button.

If you want to restrict which employees are updated, create a suitable employee query and select it in the tool’s Query field.

If you want to restrict which Employee Super Funds are updated, select the relevant superannuation funds on the Selected Funds tab. For example, if employees have contributions for Australian Super and AMP, but you only want to update AMP, then you would select AMP on the Selected Funds tab.

The following topics explain the features of the Superannuation Update Tool form.

Topic: 41130