SuperStream - Set up an Account in Chart for Super Payments (Default)

Step 1: Add

• Click on the Chart toolbar icon
  
• Click on the Liabilities tab
  

• Account Code - if using numbered accounts, select a number within the same range as other liabilities
  
• Description - e.g. Superannuation Owing, Superannuation Clearing Acc or Superannuation Liability
  
• Account Type - Liability
  
• GST Category - 11. Non-reportable Receipts
  
• Reporting Group - Current Liability
  
• Click OK to save
  

Step 2: Expense

• Click on the Expense tab
  
• Click Add
  
• Account Code - e.g. SUPR
  
• Description - e.g. Superannuation Withheld
  
• Account Type - Other Expense
  
• GST Category - 10. Non-reportable Payments
  
• Balance Sheet Link - 703 Superannuation Owing
  

  The Balance Sheet Link allows non-operating income and expense accounts to be linked to a corresponding Asset, Liability or Equity account. (ie. Superannuation Withheld Account (Other Expense) links to the Superannuation Owing Account (Liability). Entries to these accounts will show on Cashflow reports and Balance Sheet reports but not the Profit and Loss reports
• Click OK to save
  

 Step 3: Payroll

• Click on the Payroll toolbar icon
  
• Click on the SuperStream tab
  
• In the Default Super payment account box, select the SUPW Superannuation Withholding account from the drop-down account list