Recording Australian Salary with Super and salary sacrifice

Chris Henderson henders254 at gmail.com
Sat Dec 29 18:08:44 EST 2012


I'd like to confirm recording Australian Salary with Super (amount
employer pays into retirement fund; usually 9% of gross salary) and
salary sacrifice (amount I contribute to Super; comes out of gross
salary).

Basically, I'd like to keep things simple and don't want to record tax
if I can do away with it.

Salary gets paid into my checking account.

Open checking account tab, type employer name and click split transaction:
In the first split: "My Net Pay" : Current Asset:Checking Account:
Deposit: $1000
In the second split: "My Salary": Income:Salary: Withdraw: $1000
In the third split: "My Super": Investment:Retirement: Deposit: $50
In the fourth split: "My Salary Sacrifice": Investment:Retirement: Deposit: $20

Is this correct?

Thanks.


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