My Daily Work à Mass Actions à Payroll à Money Transfer Bank Changes

1.      This mass action can be utilized to settle the currency exchange rate difference which may take place during bank transfer. This may occur due to the difference between currency exchange rate details; specified during currency setup & the actual Bank exchange rate for this currency. The spotted difference of the currency exchange rate can be settled via posting relevant paycode; whether ‘Earning’ or ‘Deduction’, as per the impact of this difference on an employee’s earnings.

2.      Specify & apply required search criteria at the provided advanced filter; Search link.

3.      Press Select link to check employees listed, as a result of the applied filtering criteria.

4.      Click Apply link to specify batch details, in terms of the following:

o   Select required ‘Payroll Group’; to which the selected employees belong. Note that, upon selecting the payroll group, the system will reload the page & retrieve the ‘Current Period’, Year & ‘Run Number’; along with payroll group ‘Currency’. Also the predefined ‘Exchange Rate’ details for this retrieved currency will be displayed.

o   Enter the actual bank exchange rate per listed currency at the ‘Bank Rate’ column; provided in the displayed Currency Exchange Rate grid.

o   Select the paycode which will be posted; whether ‘Deduction’ or ‘Earning’. An ‘Earning’ paycode will be selected, in case the entered ‘Bank Rate’ was more than the predefined currency ‘Exchange Rate’. However, in case the ‘Bank Rate’ was less than the predefined currency ‘Exchange Rate’, a ‘Deduction’ paycode will be selected.

5.      Click Post link to post the specified paycode to a batch of employees.