Pay Company Multi Currency Configuration

1.

Navigate to Payroll > Maintenance > Pay Company.

Search for the required Pay Company and click on the view / edit button.

The Add International Banking Details screen displays.

2.

Navigate to the Banking Details tab

3.

Enter the IBAN number of the international account that will be used for paying employees in a different currency.

This field is mandatory if multi currency functionality has been enabled for the country. The field will only validate for the length of field (up to 34 characters) and it is the responsibility of the user to enter the correct IBAN number.

4.

Enter the BIC code. This is the branch identifier for an international bank account.

This field is mandatory if IBAN is entered.

The field will only validate for the length of field (8 or 11 characters) and it is the responsibility of the user to enter the correct BIC code.

5.

Some banks require an identification number to be output in their payment file. You may need to seek advice from your bank as to whether one is needed. If this field is populated and if producing a SEPA file for payment, this will output in the file.

6.

Click Save.

A confirmation message will displayed and the Pay Company Maintenance screen will close.

Field

Description

Rules

Reimbursement Currency Conversion Date Type

This defines the date that should be used to determine which exchange rate effective dates should be used for reimbursements that are incurred in a different currency to the base currency of the payee's country.

There is a pick list of:

• Timesheet Item Date

• Timesheet Start Date

• No conversion Date (default)

If Timesheet Item Date is selected, the timesheet will use the reimbursement's item date to determine the exchange rate to use for the foreign reimbursement currency conversion.

If Timesheet Start Date is selected, the timesheet will use the timesheet start date to determine the exchange rate to use for the foreign reimbursement currency conversion.

If No Conversion Date is selected, the timesheet will not convert any reimbursement value entered. The payee would need to convert any foreign currency expenses themselves to enter the converted into the system.

Net Pay Currency Conversion Date Type

This defines the date that should be used to convert net pay to the payee's currency value

There is a pick list of:

• Pay Batch Process Date

• Pay Period Start Date (default)

If Pay Batch Process Date is selected, the pay batch process will use the exchange rate based on the date the pay batch is processed to convert the payee's net pay.

If Pay Period Start Date is selected, the pay batch process will use the exchange rate based on the pay period start date you are processing to convert the payee's net pay.
If processing an adjustment batch for a previous period, the system will use the pay period start date of the period you are processing and not when the adjustment was for.

1.

Navigate to Payroll > Maintenance > Pay Company. Search for the required Pay Company and click on the view / edit button.

The Edit Pay Company screen displays.

2.

Navigate to the Currency tab.

The Currency tab settings display.

3.

Apply the settings for each date type.

4.

Click Save.

A confirmation message will displayed and the Pay Company Maintenance screen will close.