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bloink
Level 1

Can SMSF using QBO activate Keypay in order to use Super Stream to roll over benefits to another fund?

SMSF uses Quickbooks Online for its own general ledger. It is not registered for Superstream because it only receives concessional contributions from employers. A member wants to leave the fund and roll his accumulated benefits to another fund. This must now be done via Superstream
1 Comment 1
IntuitSheila
Level 8

Can SMSF using QBO activate Keypay in order to use Super Stream to roll over benefits to another fund?

Hello there bloink,

 

In QuickBooks Online Payroll you can adjust the employee's superannuation details through the Super Fund settings. Herre's how:

 

  1. Click on the Employees tab.
  2. Locate and click on the employee name in the active employee list.
  3. Click on Super Funds.
  4. From here you can delete and update the employee super details.

Unless a business is using Beam, changes to an employee’s super fund will not apply retrospectively in any of the super contribution reports, as this report records what the employee’s super fund was at the time the pay run was finalised. If this is the case, the option is to (a) manage the consolidation of super contributions into one fund for an employee via your clearing house portal or 
(b) you'll need to un-finalise any affected pay runs, refresh them, and then finalise again.

 

You can check these articles to learn more about superannuation:

 

Feel free to post your questions in the Community if you need more help. Have a nice day!