When preparing for Payday Super, it’s important to understand the functionality that will be delivered by your client’s payroll provider and how it will help them to meet their new Payday Super obligations.
Most payroll providers have finalised mandatory reporting changes, like Single Touch Payroll upgrades, and are ready for 1 July. Other functionality may be included in future upgrades.
Over the coming months, payroll providers will continue to update their products and may release new features in their products at different times.
By now your client’s payroll provider should have communicated their Payday Super readiness and timeframes with them.
Your clients should be able to confirm and understand:
- whether their payroll product is able to report qualifying earnings and super liability in Single Touch Payroll
- whether their payroll product has been updated to include new SuperStream data requirements
- how errors for rejected payments will be reported and where error messages will appear
- how they can access the new member verification request (MVR) to verify an employees’ super fund details are valid and can be accepted by their employee’s super fund before a contribution is made.
- whether they can send contributions fast via the New Payments Platform (NPP) and how long it will take to be received by the super fund. They may also need to contact their bank and update or change accounts to make payments via the NPP.
If your client’s payroll provider has not communicated their Payday Super readiness plans to them, you should have concerns about your client’s ability to meet their Payday Super obligations using this product. If that’s the case check the Super product registerExternal Link for more information on payroll providers that can help your clients meet their Payday Super obligations.