Running a Multicurrency payroll allows a user to enter A USD basic salary which will then be split by percentage to a USD & ZiG value which will show separately on the payslips. The split by percentage function allows a user to enter one basic in one currency which will then be split by percentage to generate two split salary of USD and ZiG
For example, if an employee has a basic of US$200 in total and 50% of it has to be in ZiG. You can simply insert the US$ 200 and use the split by percentage function to get the split basics one as US$100 and the other the equivalent of US$100 in ZiG based on the interbank rate you have used in the payroll.
To insert the two basics, follow the steps below
-Go to the 'Edit menu' and select 'Employee Master'
-Select the employee that you want to add the basics
-Once the employee is open go onto the 'Pay' menu and select the ellipsis button on this line as shown below
-If you do not have any basic amounts set, click on 'insert' and set the base currency and use the splits by percentages to effect the split basics as shown in the picture below:
-If you have two basics already set and you now want to use the split by parentage function you can click on any one of the currencies that you want your basic to calculate from and click change.
-Once the Update Rate of Pay window opens you can now insert one basic on rate of pay and take note of the currency type. To effect the split by percentage, click on ‘apply this period’ and ‘Split Rate of Pay by %’, and set the splits by percentages to effect the split basics as shown in the picture below:
-Click on 'Ok' to save the changes.