What is superable earnings in SAP PY-NZ - New Zealand?

SAP Term: superable earnings

• Component: PY-NZ

• Component Name: New Zealand

• Description: Amount on which the percentage contributions of the employer and employee to a superannuation fund are based. This is valid for Payroll . It usually contains the following: Salary Monthly Fortnightly Weekly Hourly wage Annual leave Sick leave Paid leave Car allowance Untaxed car allowance Bonus off-cycle Night bonus

Smart SAP Assistant

• Key Concepts: 
  Superable earnings is a term used in the New Zealand payroll component of SAP. It refers to the amount of an employee’s earnings that are subject to superannuation contributions. Superannuation contributions are payments made by employers to an employee’s superannuation fund, which is a retirement savings account. 
  
  How to use it: 
  In SAP, superable earnings are calculated based on the employee’s salary and any other payments they receive from their employer. The amount of superannuation contributions that must be paid is determined by the employee’s salary and the applicable superannuation rate. The employer must then make the necessary payments to the employee’s superannuation fund. 
  
  Tips & Tricks: 
  It is important to ensure that all superable earnings are accurately calculated and reported in SAP. This will ensure that employees receive the correct amount of superannuation contributions and that employers are compliant with their legal obligations. 
  
  Related Information: 
  For more information on superable earnings, please refer to the New Zealand Inland Revenue Department website or contact your local payroll specialist.