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Integrity, Innovation & Commitment
SMALL BUSINESS CLEARING HOUSE (SBSCH)

SMALL BUSINESS CLEARING HOUSE (SBSCH)

  • Wednesday, 02 October 2019 06:27

When using the Small Business Clearing House (SBSCH), make sure you enter accurate employee details. This will avoid delays and ensure super funds accept your payment. 

Important things to check are:

  1. you have correctly entered the:
  • Unique Superannuation Identifier (USI) for APRA regulated funds;
  • ABN, bank account and electronic service address for self-managed super funds; and
  • Super fund member account number. 
  1. the super fund name does not contain any symbols, such as '&'; and
  2. your payment matches your payment instructions and you are using the correct Payment Reference Number (PRN). 

If there are errors in your employees' details, super funds may send your payment back to the Australian Taxation Office (ATO). They will then contact you to ask that the information be updated within 7 business days.

If you update the information, the ATO will re-send the payment to the super fund. If not, the payment will be refunded back to you. 

If your employees' details change after you submitted a payment instruction and before it has been processed, you will need to delete the payment instruction and re-lodge. 

Once a payment has been received by the SBSCH and sent to the nominated super fund, it can be viewed in the SBSCH Historical tab.

 

 

Let us advise you with your accounting and taxation needs!