Bookkeeping Perth Xero Tips - SuperStream
5/10/2016

As you may be aware, ATO requires every employer to use SuperStream for paying their employees’ super starting from 30th June 2016. SuperStream is the new way employers must pay super. It means paying super and sending employee information electronically in a standard format. We are here to share a Bookkeeping Tips on Xero.

Xero has made their system complying with SuperStream requirement since November last year. If you subscribe Xero for your accounting software, the Auto Super feature is available on their Premium plans. You do not need to use any other third party clearing house to pay the super and Xero make their system easy in processing the super payments. 

Before you can submit superannuation using Auto Super through Xero, you need to register with Auto Super by filling the online form and complete each employee details (Personal Details, Contact and Taxes). Those details are the minimum information standards of SuperStream.

Once you have done the two pre-checks above, you can create a new payment batch and select the list of posted pay runs which you would like to include in the payment batch. The nominated authoriser will receive a text with the authorisation code which is valid for 24 hours to approve and submit the payment batch. After you have made your super payments, the bank feed will pick up the transaction in your bank account and what you need to do is to reconcile the bill by allocating it to the payables account.

STC Partners, Perth Accountant is an experienced Perth accounting Firm with consultants of Xero Bookkeeping, service the Perth market. We are located in East Vic Park, Perth, Western Australia. Our  consultants are ready to take your query on Bookkeeping.

If you would like to know more about Xero and its features, please do not hesitate to give STC Partners, Perth Accountant a call on (08) 9362 1000 or drop us an email at admin@stcpartners.com.au