Add a RESC Rate Rule

The below explains how to setup a Contribution Rate Rule for additional employer contributions that need to be reported as RESC and apply it to the Payee record.

Step-by-step guide

This example is based on an additional 2.5% employer contribution.

PART ONE – Add Contribution Rate Rule

1. Log into FastTrack360
2. Go to Payroll > Payroll > Maintenance > Superannuation > Contribution Rate Rules
3. Click the + symbol to add a new Rate Rule. Enter the following:
   • Name - must be unique
   • Week Ending Day
   • Tick the RESC tick-box
   • If you want the contribution rate rule to be available for use as soon as it is saved, change Status to Released
4. Click the + symbol to add a Validity Period
   • Enter a Validity Start Date
5. Click the Pencil symbol to open the Superannuation Contribution Rate screen. Enter the following:
   • Contribution Basis
   • Percentage Value & Pay Code Group for % Calculation - doesn't apply if Contribution Basis is set to Fixed
   • Fixed Value, Fixed Per & Pay Code Group to Define Period (for fixed) - doesn't apply if Contribution Basis is set to Percentage
   • Cap Fixed at & Cap Per - doesn't apply if Fixed Per is set to Pay Period
6. Click OK > Click Save

PART TWO – Add to Payee Record

1. In Payroll, click Payee
2. Search for relevant Payee and open record
3. If a new Validity date is required, on Payee Details tab, enter date in Add Validity and click + symbol
4. Click Superannuation Details tab
   • Click the + symbol to add a new Fund
   • Search for the relevant Fund and click OK
   • Complete Policy/Member Number and Registration Date
   • In Rate Rule, select RESC rule created in Part One
   • If required, tick Agreement Default
5. Click Save