MYOB says the introduction of its new Pay Super feature will give Australian employers time saving benefits and ensure they are compliant with SuperStream in time for the Australian Tax Office’s (ATO) deadlines.

MYOB general manager, Business Division, James Scollay says for businesses using MYOB, the introduction of SuperStream will be made simple.

“To make it easier for businesses of all sizes to comply with SuperStream, MYOB has released a Pay Super feature so meeting your super obligations can form part of your regular payroll process. This feature is now available in AccountRight Plus and AccountRight Premier and is in the process of being rolled out across all other MYOB payroll products.”

According to the ATO, SuperStream will simplify how contributions are made, meaning potential time and cost savings for employers.

“Our comparisons of the difference between using integrated software to do the ‘heavy lifting’ of super contributions and working manually to calculate and make payments have demonstrated that employers can turn hours of work into minutes every time they pay super, and the more employees they pay, the greater the time saved. One of our early users of Pay Super told me it turned a five hour job into a five minute job,” James says.

James says the benefit of MYOB’s early release of the new Pay Super feature is that employers don’t need to shop around for providers or deal individually with super funds.

“The update is free for payroll customers with their subscription, and there are no limits on the number of employees paid or the number of transactions. Pay Super replaces M-Powered Super, which has been available to desktop users of AccountRight. This is a great opportunity to upgrade to the new AccountRight.”

James adds that Pay Super has already proven extremely popular with AccountRight customers, with thousands pre-registering their interest in the feature.

“This is just one of a number of constant updates we are introducing to make life easier for Australian business operators. That’s an incredible time saving, freeing the business operator to focus on working more productively on their business.

“If you are still managing or calculating your superannuation obligations, it’s time to take a good look at the benefits a fully integrated online accounting and payroll solution, like MYOB AccountRight, can provide for your business.

“We have also added ABN Lookup to help manage GST reporting requirements and will be further increasing electronic submissions and productivity in the coming year, through further steps towards meeting Standard Business Reporting commitments.

“With every end of financial year, there’s a lot to think about for Australian business owners. Our aim is to make the process as simple, convenient and stress-free as possible,” he adds.

SuperStream is the Australian Tax Office’s (ATO) new process, requiring employers to pay their employees and record their payments electronically. SuperStream requires businesses with 20 or more employees to be compliant by 30 June 2015. For smaller businesses, with 19 or fewer employees, SuperStream will have until 30 June 2016 to be compliant, though there is no reason not to start saving time now.