Gross Up Currencies Overview
About Gross Up Currencies
The Gross Up Currencies feature allows for the calculation of a Guaranteed Nett Salary.
There are typically two scenarios that would benefit from this feature:
- When the Employment Contract is based on a Guaranteed Nett Salary, the Basic Salary must be grossed up.
- When the Employment Contract is based on a Guaranteed Nett Salary in a currency that differs from the currency of the payroll.
This functionality will only be available for Monthly Payrolls.
Licenced Module
The assistance of a VIP Consultant will be required to license the VIP Directory before the Gross Up Currencies feature can be utilised.
Access Control
If the Gross Up option is going to be used because the currency in which employees are paid on VIP Payroll, differs from the currency used when settling on their Guaranteed Nett Salaries, then Full Access Control must be given to the Gross Up Currency Menu Option.
Due to the fact that the values in the Currency File will have a direct impact on the payslips of the employees, Access Control must be defined correctly.
To gain the full benefit of all the Security features for this module, and because the Currency File maintenance is done directory wide, it is strongly recommended to make use of Global Access Control, where the Super User has visibility of important factors like Stop Further Entry Flags, Start Of Period Flags and Logged in Users. Therefore, if Basic Access Control is used, it is highly recommended to change to Global or Advanced Access Control.
For more information about Access Control, see the following sections:
The assistance of a VIP Consultant will be required to set up Global or Advanced Access Control for this feature.
Gross Up Currencies - More Detail
For a detailed description of the Gross Up Currencies feature, see the following sections:
Company Miscellaneous Screen and Gross Up Currencies
Employee Increase Screen and Gross Up Currencies
Employee Payslip Screen and Gross Up Currencies