How does paying super work?¶

Paying super through myaccountant takes two separate things, and it helps to keep them apart:

The details go to Beam when you lodge — who each employee is, which fund they're with, and how much.
The money goes to Beam separately, either by direct debit or a payment you make.

Beam is a super clearing house. It takes one payment from you and splits it across every employee's fund, so you don't have to pay each fund yourself.

Both parts have to happen. Lodging on its own doesn't move any money.

How the money reaches Beam¶

The method is set on the contribution, and it decides whether you need to do anything.

Direct Debit¶

Beam takes the money from your nominated account automatically. You don't need to make a payment.

The contribution shows Amount to be debited. On your bank statement it appears as Precision CH.

Beam sends the request to its bank at 3:30pm AEST (Brisbane time) on the same business day you lodged. Lodge after that time, or on a non-banking day, and it goes at 3:30pm on the next banking day.

Direct Credit (EFT)¶

You pay Beam from your own bank. The contribution shows Amount to pay along with the BSB, Account, Account name and a Payment reference.

The payment is due the same day you lodge, and you must quote the payment reference exactly as shown. Beam matches your payment to your contribution using that reference — if it's altered or missing, Beam can't tell what the money is for.

Each field has a copy button next to it, so you don't have to retype anything.

BPAY¶

You pay via BPAY using the BPAY Biller code and Reference shown on the contribution. As with EFT, the payment is due the same day you lodge.

If you don't pay in time¶

This applies to EFT and BPAY, where the payment is yours to make.

If Beam hasn't received your payment three business days after you lodged, it sends fresh payment instructions so you can put it right. If the payment still hasn't arrived five days after that notice, Beam cancels the contribution — and the super remains outstanding, so it has to be lodged again.

If a direct debit is rejected¶

If your bank dishonours the direct debit — a closed account, for example — no money is taken and no super is paid.

Beam either cancels the contribution, or sends new payment instructions so you can pay another way. Where new instructions are issued, they appear on the contribution and in Activity, and cover both BPAY and EFT.

What happens next¶

Once Beam has both your details and your money, it matches the two, then distributes the amounts to each employee's fund. The receiving funds typically take three business days to process what they're sent.

The contribution's status updates on its own — you don't need to do anything to progress it. To pull the latest from Beam yourself, use Check status.

To understand what each status is telling you, see What does each super payment status mean?

Changing your mind¶

Cancel Lodge withdraws a contribution from Beam, but only while Beam still can.

For direct debit, you can cancel up until the 3:30pm AEST request time described above. The confirmation dialog shows you that exact time.

For EFT and BPAY, a cancellation only works while no money has moved and nothing has been sent on to the funds.

If a cancel can't go ahead, myaccountant shows you Beam's own reason.

Cancelling doesn't clear what you owe. The super is still outstanding, and the contribution needs to be lodged again.

If you paid a fund directly¶

If you paid a fund outside myaccountant, open the contribution and use Record as paid outside Beam so your records match what actually happened.

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