What is a Holding Account for Gross PAYG and Superannuation (SG)?
A Holding Account is a bank account you have established specifically to transfer your Gross PAYG and Superannuation (SG) contributions as part of your FAST-Bank™ (.aba) file. This may be a “high” interest earning account with your Financial Institution.

What transactions does the Superannuation (SG) Holding Accounts retain?
The Superannuation (SG) Holding Account can be set to EITHER Employer SG Only (9.50%) or ALL Superannuation Contributions which includes Employer SG (9.50%), RESC (over 9.50%), Concessional (before Tax) and Non-Concessional (after Tax) contributions from Version 19.50.

  1. Click File > Edit then Banking or
    Click File > Company > Banking Information / FAST-Bank™
  2. Click Pay Run.
  3. Navigate to Holding Accounts for Gross PAYG and SG.
    1. Select Superannuation (SG).
    2. Select EITHER Employer SG Only (9.50%) or ALL Superannuation Contributions which includes Employer SG (9.50%), RESC (over 9.50%), Concessional (before Tax) and Non-Concessional (after Tax) contributions.
    3. BSB: Enter the BSB (Bank, State, Branch) for the Bank Account.
    4. Account Number: Enter the Bank Account Number.
    5. Account Name: Enter the name on the Bank Account.
    6. Reference: Enter the Reference to display on the Organisations Bank Statement.
    7. A/C Type: Enter S for Savings or T for Transaction.
  4. Click Save then Exit.
Revision: 25
Last modified: Jun 03, 2020

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