Gross Up Currencies Screen

Even though it is most unlikely that this would be necessary, the Report and Screen Descriptions as well as the Symbol can be changed, if required.

1. Click on the Currency Code that you want to delete.
2. Click on the <Change> button to modify the currency.
3. The Currency Screen will be displayed.
4. Modify the Report and Screen Descriptions for the currency.
5. Modify the Symbol for the currency.

Select a Payroll Currency and click on the <Update Rates> button:

1. The Exchange Rates can be entered and updated by clicking on the Currency used by the payroll and then on the <Update Rates> button.
2. The Currency Rates Screen will be displayed.
3. Exchange Rates would typically need to be updated when the currency in which an employee is paid on VIP Payroll, differs from the currency used when settling on his/her Guaranteed Nett Salary.

Example:

The payroll is calculated in South African Rand but the employee was instated on a Guaranteed Nett Salary based on US Dollars. South African Rand is the payroll currency, the employee currency of US Dollars will be selected and the Exchange Rate populated.

Click on the <Update Rates> button without selecting the Payroll Currency Code:

1. The Currency Rates Screen will be displayed.
2. The Payroll Currency field will be blank and the currency can be selected from the drop-down list on this screen.
3. Enter the Currency in which the employees' Guaranteed Nett Salary has been negotiated.
4. Once the Exchange Rate has been entered, click the <Update> button to save.

Any number of Employee Currencies with their Exchange Rates can be entered per Payroll Currency.

The Exchange Rates entered here will be the ONLY options available on the Gross Up Control Screen, accessed from the Employee Increase Screen.

The Currency Rates are available to all companies in this directory.

The Guaranteed Nett Salary of employees linked as Gross Up on the Increase Screen will ONLY be amended when a General Recalculation has been performed manually in that company, otherwise the new rates will only be applied after the next Start of Period.

All changes to Currency Rates are recorded on the Audit Logger File.

Click on the <Print Rates> button for a report containing all the Exchange Rates that have been defined per Payroll Currency used in the current VIP Directory.