Hello therunningpod,
Are you referring to how to record a superannuation expense for your business? If so, in QuickBooks Online you can either create an expense transaction and allocate it to a Superannuation Expense account or use the payroll feature to automate super contributions.
To create an expense transaction:
- Click on the +New button.
- Click on Expense.
- Fill out the information like supplier, date, account details select Superannuation Expense account, and amount.
- Click on Save and Close.
If you don't see the Superannuation Expense account, you can create it under your Chart of accounts. Here's how:
- Click on the Accounting tab.
- Click on Chart of Accounts.
- Click on New.
- Under the Account type choose Expense, and under the Detail type choose Other operating charges.
- Under Name enter like Superannuation Expense.
- Click on Save.
That's it! You're able to manually record the superannuation expense in QuickBooks Online.
If you're using the QuickBooks Online Payroll feature, you can set up and automate super payments using BEAM by setting it up under your Payroll Settings page. Please check this link to learn more about How to automate Super Payments using Beam and Record Reportable Employer Super Contributions (RESC) in QuickBooks Payroll powered by KeyPay.
Feel free to comment below if you need more help. The Community is here to help you. Have a nice day!
