🤓 Xplan Hint: Tracking Super Contributions

andrew.wilson.0

Did you know that there is an element that summarises Super Contributions. It gives you a clear and consolidated view of your client's superannuation contributions, making tracking and compliance easier than ever.

Key Features at a Glance

Tracking: The element calculates the total sum of concessional (CCs) and non-concessional contributions (NCCs) for each financial year.
Historical Data: Contribution tracking starts from the 2018/2019 financial year onwards.

How the Data is Calculated

The contribution figures are calculated based on the data entered in the Contributions tab within the superannuation plans.

Flexibility and Compliance Details

Manual Overrides: You have the option to manually override the calculated figures for both CCs and NCCs if needed. This is done via the Edit screen for the specific financial year. While in the Edit screen you can also capture:

Total Super Balance (TSB)
Refunded Excess CCs
Refunded Excess NCCs

Notes and Document linking

You can link a Note to easily consolidate all relevant documents/statements for each financial year's contributions in one place, which helps keep all relevant information organized.

Xtools/Xtools+ Contribution Cap Calculations

The Super Contribution Summary is about to get even more powerful! Contribution cap data will be imported into the following Xtools: Xtools+, Optimiser, Retirement Funding, TTRAP and Lifestyle Goals.

Cap Calculations

Xplan will calculate your client's Personal Concessional and Non-Concessional Cap data by leveraging the existing Contribution Summary information.

Concessional Contributions (CCs): The system will calculate your client's unused and used concessional cap for each financial year, using previous eligibility for the carry-forward rule.
Non-Concessional Contributions (NCCs): The system will determine the financial year in which your client has triggered the bring-forward rule.

If you can't see the Contribution Summary on your Xplan site, reach out to your site administrator to have it added to the interface.

💡 For more information refer to this Community article

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Comments

sevans

We're loving this new area of Xplan, and have been able to remove our reliance on a monstrous spreadsheet we had been using to keep track of Super Contributions for our SMSF clients. While it is great to be able to code our the Concessional\Non-Concessional totals, caps and unused amounts, it would be even better to allow us to search\code\report on specific contribution types.

I.e I want to search for all clients who have made a personal concessional contribution and how much they contributed during a specific period (the current FY) so I can kick off a thread to prepare a NOI and Letter of Acknowledgement. At the moment, all I can see is a high-level total for concessional contributions, but this includes ALL concessional contribution amounts. If what we need can already be achieved, I'd love to know!

courtney.youngblutt

Hi @sevans , so glad you are loving this update. You are able to search across the super contribution summary already. (see screenshot below)

I think you might be able to achieve what you want via Scheduler.

➡️ You could set up an advanced search to look for concessional contributions within a particular date range.

➡️ Have scheduler run an xport report or a merge report that extracts the details of those contributions

➡️ Scheduler can then kick off a thread for you

See this Micro-Learn in the Iress Learning Centre for more information on Scheduler: https://learningcentre.iress.com/enrol/index.php?id=272

b.moran

Hi @sevans

How are you using this for your SMSF contributions? I'm struggling to link to the SMSF entity or the individual entity that has an SMSF?

This is great for our clients with straight super accounts, but would really love to be able to utilise it for my SMSFs. Any tips accepted and greatly appreciated.