We are excited to introduce new features in our payroll system aimed at improving the efficiency of managing superannuation payments for your employees.
With these updates, you now have two convenient methods to handle superannuation payments:
1.SAFF File Export and Clearing House Upload
You can manually export a Superannuation Alternate File Format (SAFF) file directly from BBS and upload it to your preferred Superannuation Clearing House that allows for SAFF file uploads. This option eliminates the need to manually enter superannuation amounts for each employee on a monthly or quarterly basis.
2.SuperStream Integration
For those seeking a more automated solution, our new SuperStream integration enables you to submit superannuation payment data directly to superannuation funds in a standardised electronic format. This feature removes the need to utilise a Superannuation Clearing House all together. There are then three options for payment.
i.Manual Payments: This manual option allows you to manually make superannuation payments to the superannuation funds by generating a payment report showing all the bank details and reference numbers required.
ii.ABA File Upload: You can generate an ABA file containing all the bank details and reference numbers for the superannuation funds for easy upload to your online banking platform.
iii.Direct Debit/PayTo: This convenient feature allows you to have superannuation payments debited directly from a nominated bank account, providing a hassle-free and automated payment solution.
Payday Super
The Australian Government announced in May 2023 that Payday Super would be implemented for all employers by 1 July 2026 and as a result employers will be required to pay their employees’ super at the same time as their salary and wages. When implemented, without using BBS's SuperStream integration, employers will be required to manually enter superannuation details into Superannuation Clearing House portals, and make manual payments, either weekly or fortnightly depending on their pay cycles.
While Payday Super is still a while away, we strongly encourage you to start using the SuperStream Integration option to reduce your administration time prior to Payday Super implementation.
Getting Started
There a few steps required to enable the use of these new features. These steps are outlined in the Quick Reference Guide topic Preparing for SuperStream or SAFF File Generation.
Processing Superannuation Payments
Users can manage and track their superannuation payments through Prepare Superannuation Payments, located on the Main Menu, under Payroll > Superannuation.
Once processed, superannuation payments will be posted to the Bank Register for reconciliation, posted to the general ledger to clear out the Superannuation Clearing account(s), and are visible for enquiry in the new Superannuation Payment Enquiry screen.
For more information, please refer to the Processing Superannuation Payments quick reference guide topic.
