Currency Section

Working with Multi-Currency

It is often the case that recruitment agencies have clients across multiple countries and candidates are required to travel and work in various countries. Where this happens, clients expect to see their invoices in the currency of their country. Payees would also be incurring expenses in a different currency and they would want to be reimbursed for that expense in their base country's currency. Some payees may also have international accounts where they wish for their wages to be paid into. Whenever any of these circumstances occur, a currency conversion is required to deliver the expected output. The multi-currency module has these following features to meet these requirements:

• Select currencies that are most used

• Maintain currency exchange rates

• Import currency exchange rates via a csv import

• Allow candidates to enter reimbursements in the currency they were incurred and for the exchange rate to automatically calculate the value back to the candidate's base currency

• Convert payee's net pay value from base currency to their chosen currency Entry of payee's international bank accounts of BIC and IBAN

• Generation of a SEPA payment file when paying in Euros

• Reports displaying the converted values and the currencies used

• For invoicing, the debtor can be assigned their preferred currency

• Currency conversion on invoices from base currency to the debtor's preferred currency

• Visibility of invoice lines in base currency and the debtor's preferred currency

• Currency conversion against credits and rebills

• Finance export to include currency values against invoiced sales

The multi-currency features are controlled by an activation flag against a country. Should you wish to use these features, please contact your account manager to discuss requirements.

Where this feature has been activated, users will need security permission to ‘Portal > Systems Maintenance’ to see the configuration items in Global Maintenance (shown below).

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