Understanding Multiple Currencies

A key part of any multiple country system is currency support. Global Payroll streamlines the process of using multiple currencies. You can enter amounts and make payments in any currency—the system performs all necessary conversions using the parameters that you define.

This topic discusses:

• Using and defining currency.

• Currency at the pay entity level.

• Currency at the element level.

• Exchange rate types and dates.

• Accumulators and currency.

• Viewing payments across multiple currencies.

• Online currency defaults.

• Currency in batch processing.

Note:

Global Payroll is designed to meet the changing currency requirements of the European Monetary Union (EMU). The system supports all currencies and enables multiple currency conversions.