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Creating and managing employee super funds in Reckon One

Learn how to create and manage employee superannuation funds in Reckon One, including how to assign a superannuation fund as the company default.

Creating superannuation funds

  1. Go to Payroll, Payroll Settings, then Superannuation funds
  2. Select Create superannuation fund
  3. Select whether the superannuation fund is an APRA regulated fund or a Self Managed Super Fund (SMSF)
  4. Enter a Display name for the superannuation fund
  5. For SMSF, enter the fund name. For APRA regulated super funds, start typing the Fund name to see a list of options to select from.
To request a super fund to be added to the list of available options, select the Superannuation fund isn't listed link, enter the details of the fund and select Submit.
  1. Enter the remaining details and select Create.

Selecting a default fund

You can make one of your created superannuation funds a default superannuation fund. The default fund is the superannuation fund available for your employees if they do not already have a chosen fund.

  1. Go to Payroll, Payroll Settings, then Superannuation funds
  2. If you have created one or more superannuation funds but haven't yet set a default superannuation fund, you will see a notice prompting you to select your default fund. Click the Select default fund button.
  3. Select the Super fund from the dropdown list of created superannuation funds.
  4. Select the Fund product.
  5. Select Save and close.
Some books may contain a system generated fund, which will appear in the superannuation funds list with a fund name of Default Super Fund. This is not the same as the default superannuation fund required for employee self-onboarding. If you see this fund in your list, select Review details to see a list of employees who are using this as their super fund. You will need to update their records with the correct super fund as soon as possible.

Changing the default fund

Changing the default fund will not affect employees currently linked to the existing superannuation fund; however, it will be available for easy assignment to new employees.

  1. Go to Payroll, Payroll Settings, then Superannuation funds
  2. Select the pencil icon in the section titled Default fund.
  3. Make the necessary changes, then select Save and close.

Updating superannuation funds

To edit or update a superannuation fund:

  1. Go to Payroll, Payroll Settings, then Superannuation funds
  2. Select the pencil icon next to the superannuation fund you wish to change.
  3. Edit the relevant details.
If the superannuation fund is your default superannuation fund, you will be restricted from editing the superannuation fund type and the chosen fund and fund product. To edit these details, you'll need to change the default fund.

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Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonone

Or log a Support Ticket: https://www.reckon.com/au/support/

How did we do?

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