Setting up a Self-Managed Super Fund is similar to setting up Super Funds, however there are differences.
The ESA Alias field is only active when Self-Managed Super Fund is ticked. This field holds the Electronic Service Address information for the SMSF fund. The employee should be able to provide you with the ESA Alias. The ESA Alias is used in the transfer of electronic messages and superannuation payments via an SMSF message service provider to the fund.
To set up a Self-Managed Super Fund:
Go to Payroll, Maintenance, Superannuation, Superannuation Fund.
Click Add.
Enter the Code and Fund Name.
If you use:
Super Clearing, tick the checkbox.
Express Super, tick the checkbox.
Ticking either will grey out the Fund Payment fields, except for Fund Type.
Tick Self Managed Super Fund.
Enter the fund's ABN and ESA Alias.
Complete the Address and Contact Details sections.
You can record in Fund Authorisation if you have been notified of the following:
Compliance Advice
Contribution Acceptance
Signed by Authorised Person
If you use Creditor EFT Export to create a bank file for the super payment, tick EFT Payment and select the EFT Institution to pay out of.
When Use Super Clearing or EFT Payment is ticked, you must enter the Bank details (Bank, Account Name and Account Number) for the fund.
On the File Layout tab, select the file layout you use. This tab is only available if Use Express Super and Use Super Clearing are unticked.
On the Employer Contributions tab:
Click Select
Highlight the Employer Contribution you wish to add
Click OK.
If you have any Employee Contributions created for this new fund, attach the Deductions code on the Employee Contributions tab by clicking Select. Alternatively, you can click New to create new deductions for employee contributions.
Click OK to save the super fund.
Important: Each Super Fund requires its own Employee Contribution deduction codes. Don't use the same deduction code that has been attached to another Fund.
Refer to the article below for more information on adding the fund to the employee: