Money Reporting Guide

Introduction 

There are some new reports under a Money section. This section reports on funds that are held and transferred on behalf of employer by our clearing house service. Each entry represents a deposit and tracks its progress through various states, from receipt of money from Employer, disbursement of money to the fund(s) and/or refund of money to the Employer. If a single deposit is for multiple employers then there is an expand button to view the related employers.

Pre Saved Filters

Money can be in one of the following states and there is a sub-report to view these specific states:

Report/State	Description	Scenario	Account balance	Comments
All	Returns all payments for the period and employers selected
Unmatched	Money received from employer but not linked to a batch submission.	Money is prepaid. Batch data hasn't been submitted or cannot be matched.	Positive	Also known as "money, no data"
Holding	Money has been linked to a batch and is in the holding period awaiting distribution.	There is a standard holding period for all funds to be dispersed.		Timelines: Direct Credit: ~1 business day. Direct Debit: ~3 business days.
Refunded	Money directly returned to the employer due to issues with disbursement to funds	Incorrect fund bank account (e.g., SMSF). Closed account (e.g., successor fund). Overpayment. Underpayment with no top-up received within 6 business days. Unmatched/partially matched for over 14 business days.	Initially Positive then Zero	This report shows money our clearing house has refunded. Refunds paid by funds directly to an employer's bank account are not currently shown in this report. A refund can subsequently fail if the bank account is invalid. In this case it will move to refund failed.
Refund Failed	Refund attempt failed due to invalid employer bank account.	Employer has entered an incorrect refund BSB or Account number	Positive	Presently we do not automatically retry the payment when the refund account is corrected by the employer. This means that until the automated process is introduced the status will remain as refund failed after the refund is paid manually. This will be remediated in a future release.
Sent to fund	Funds have been distributed to relevant funds.		Zero	Some amounts may still fail post-transfer and become refunded. Typically, within a few hours of the bank receipt acknowledgement
Dishonoured	Applies to direct debits that were dishonoured.	Employer does not have the required amount in their account Employer has disputed the direct debit	Zero (a dispute will initially be positive)	The money is considered not received.

Key data fields

Age    Calendar days since money was received (calculated from receipt date).
Status    Current state (e.g., unmatched, matched, refunded, sent to fund, partial).
Amount $   Amount deposited into the PayClear bank account.
Unmatched $   Portion that remains unmatched.
Holding $ Portion of the amount that has been matched to batch data.
Refunded $   Amount refunded to the employer (can be partial).
Sent to Fund $   Amount sent to funds (updated after the bank has acknowledged receipt of transfer).
Account Balance $ ²    Employer current account balance (positive = employer credit) in the employer sub account maintained by SuperChoice.
Batch Reference    Reference of the related batch submission.
Date Received    Date money was deposited into the PayClear bank account.
Matched Date    Date money was matched.
Refunded Date    Date money was refunded from the PayClear bank account to the Employer..
Sent to Fund Date    Date funds were distributed to the funds/SMSFs.
Type    Employer's payment method: Direct Debit, NPP, Direct Credit, or BPAY.
Narrative    Banking narrative from the payment.
Employer Data    ABN, name, unique ID (with breakdown if multiple employers per payment).
Match Type    How the match was made (e.g., manual, automated match levels).

Payment processing timelines

* All days are in banking business days apart from an underpayment refund (14 calendar days + 1 business day)

Money No Data Report – Transition to Online Reporting

The data previously available only through the manually extracted Money No Data report is now accessible via the online reporting platform. This transition brings several improvements in how data is accessed, filtered, and analysed. All custodians that currently receive the "MND report" have also been given access to this reporting facility.

Key Benefits of Online Reporting

• Real-Time Data Access: No delays in data availability; information is current and always accessible.
• Historical Search and Filtering: Easily retrieve and filter past data based on employer, date range, or status.
• Custom Reporting: Users can define timeframes and criteria to generate tailored reports.
• Expanded Data Points: Additional fields and metrics provide more context and actionable insights.

Mapping: Old Report to Online Reporting

Money no data report	Online reporting	Comments
Appendix A - Money (no data)	Money => Unmatched	Unmatched funds that haven’t been linked to batch data.
Appendix B - Data (no money)	Payments => Not paid	Records with batch data but no matching payment.
Appendix C - Underpaid	Payments => Underpaid	Payments received are less than expected.