Setting up superannuation deductions in EXO Payroll (New Zealand)

Superannuation Contributions can be made by an employee and/or an employer towards the employee's retirement.

Unlike KiwiSaver, Superannuation Contributions are not a legislated item in New Zealand.

MYOB Exo Payroll is able to process Superannuation contributions for both employee and employer contributions.

These contributions will be processed as deductions in the software.

To set up both employee and employer superannuation deductions

Log into the company that the Superannuation Deduction(s) are to be setup in
From the Maintenance menu choose Deductions to open the Deduction Maintenance Window.
Click on the Add:F4 button at the bottom of Select Deduction screen
The Code field will default to the next free code. This code can be changed to any unused code as desired.
Enter a Name that is easy for everyone to understand such as Employee Super or Employer Super.
If the deduction is to be calculated as a percentage of the employee's Gross Earnings, set the Calculation Method to "Percentage of Gross Pay". If a specific amount is to be deducted each pay, irrespective of the employee's Gross Earnings then set the Calculation Method to "Fixed Dollar Amount".
In the Percentage Rate field, enter the percentage rate to be deducted if this is the same for everyone that the deduction will be assigned to. If the Calculation Method is set to Fixed Dollar Amount, enter the amount to be deducted if this is the same for everyone.

If the percentage rate or amount is not the same for all employees that the deduction will be assigned to, leave the Percentage Rate field or the Amount field blank. This will allow the entering of the Percentage Rate or Amount that is specific to that employee.
Set the Type to "Employee Super" or "Employer Super" depending upon the type of Superannuation Contribution being created.
Click the Save:F10 button or press the F10 button to save this new deduction.
Once the Superannuation deductions have been created, add the appropriate deductions to the Standard Pay of the employees. If the Percentage Rate or Amount fields have been left blank in the Deduction setup, when the deductions are added to the Standard Pay of an employee specify the rate or amount appropriate to that employee.

Need more help? You can open the online help by pressing F1 on your keyboard while in your software.

You can also find more help resources on the MYOB Exo Employer Services Education Centre for Australia or New Zealand.