SuperStream Compliant Payroll for $3/mth
Make superannuation contributions easy with Reckon One online accounting software.
Payroll software that’s perfect for any business
Unlike other payroll solutions, Reckon One online accounting software manages payroll for unlimited employees to help you keep costs low as your business grows.
Using the Payroll module which starts from $3/mth, you can pay wages, manage leave, and stay up to date with the latest tax and SuperStream requirements.
For $2 more a month, you can automatically send SuperStream compliant payments directly to NAB SuperPay or Ozedi SuperStream gateway, simplifying this process and saving you time. Click here to learn more.
What is SuperStream?
SuperStream is the new Government legislation requiring businesses to make superannuation contributions for their employees electronically.
This new electronic payment system for superannuation contributions replaces cheques, letters, emails and forms. Previously these had to be sent to each fund separately.
SuperStream aims to simplify and increase the efficiency by which superannuation contributions are made.
How does SuperStream work?
SuperStream has been introduced to ensure that employee contributions are processed by the superannuation funds in a timely manner and with far more accuracy than has been achieved in the past.
Apart from the efficiencies to be gained by the funds, the employers will also achieve significant savings as a result of more efficient practices.
Reckon One will produce a file containing the data to be sent to a SuperStream gateway such as NAB Super Pay or Ozedi for distribution of contribution and remittance advices to the superannuation funds. This will allow you to pay your superannuation contributions directly from your bank account.
Australian Tax Office. (2015, November 19). SuperStream makes super simple for employers.