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9 votes
Hi everyone thank you for your feedback on superannuation processing times. With the Payday Super changes and the 7-day requirement, we know speed is top of mind.
Currently, most super payments processed through Xero are transferred to fund providers on the 5th business day. You can read more about expected timeframes and legislation updates in our Payday Super FAQs.
We completely understand the demand for faster turnarounds. The entire industry is looking towards faster processing.
To help us gauge the impact on your business, we are moving this request to Gaining Support status. Please vote, comment, and share your experiences below so we can better understand your workflows and concerns.
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Matthew Branson
supported this idea
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Hi, I came here to post the same message. Xero needs to talk with the other stakeholders ie clearing house and super fund, to get super payments arriving sooner. I submit super for payment on the same day I pay my employees wages and I see on zeros super report that it typically is 7 days later that my employees super fund gets the money. In an age where payment outages occasionally happen, various businesses are hacked or IT systems can go temporarily offline I want to see super arriving within a few short days on average so any delays don’t mean myself and thousands of small business owners have to lose deductibility of the super and have to pay all the penalties and pay bookkeepers to fill out the relevant late forms. That doesn’t seem fair when we are paying super the same day we pay wages!!