Blog
by Beam
|15/11/2024
Registering with Beam is easy and only takes a few minutes. You can register with Beam in software provider’s payroll platform.
It’s important that you follow these 4 simple steps when registering with Beam.
You can pay contributions to SMSFs with Beam. You’ll need to set up an SMSF in your payroll platform before you can make contributions to the SMSF. Make sure the correct SMSF’s details, including ABN, Electronic Services Address (ESA) and bank account details, are provided by the employee.
Running into trouble? Learn more about setting up an SMSF with Beam here.
Once you submit your super contributions, you’ll get a unique PRN. The PRN has 18 digits. If you don’t use the correct PRN, your contributions might not be able to be processed because Beam can’t automatically match the super contribution you submit with the super payment you make.
Beam regularly emails transaction statements to confirm that all your superannuation payments for the past month have been submitted with your payroll software provider and has been processed.
These statements are sent on the 7th business day of each month. The information in the transaction statement is from your payroll software, which means you can also see the info within your payroll software reports.
You can continue to access your Beam transaction statement for up to 12 months. You can even keep using the link sent in the original statement email for this time. If you need the statement for longer than 12 months, you can download it.
This is handy because the ATO requires employers to keep records that adequately explain their super transactions for their employees for 5 years from the date of the contribution.
Beam send refunds back to your chosen bank account. You’ll be notified of the return and the reason for the return. This happens through your payroll software provider. If you need to update your refund bank account details, you’ll need to contact your payroll software for support.
Learn more about how Beam can lighten your super payments workload
Learn moreImportant information
®Registered to BPAY Pty Ltd (ABN 69 079 137 518).
This is general information. It’s not based on the specific objectives, financial situation or needs of your business. So think about those things and read the Product Disclosure Statement before you make any decision about our products. Contact us or your payroll provider for a Product Disclosure Statement (PDS).
Beam is issued by Precision Administration Services Pty Ltd (Precision) (ABN 47 098 977 667, AFSL 246 604). Precision is wholly owned by Australian Retirement Trust Pty Ltd (ABN 88 010 720 840, AFSL 228 975), trustee of Australian Retirement Trust (ABN 60 905 115 063).