Using and Defining Currency

To use multiple currencies in Global Payroll, you set up and maintain the following tables:

• CURRENCY_CD_TBL (stores currency code data).

• CURR_QUOTE_TBL (stores currency quotation method data).

• RT_INDEX_TABLE (stores market rate index data).

• RT_TYPE_TBL (stores market rate types).

• RT_RATE_TABLE (stores market rate data).

These PeopleSoft Component tables are used universally by PeopleSoft HR.

See PeopleSoft 9.1 product documentation: Enterprise Components

Once you have defined the currency codes, types, exchange rates, and base currencies that you use in your system, you'll need to understand how Global Payroll uses this information so that you can run your payroll using multiple currencies.

The pages referred to in this discussion are described in detail in other areas of this documentation; here we discuss only how the fields on the pages are used in currency processing.

Once you've set up your currency rate codes, rate types, and exchange rates, you can use them to control your input and output amounts.

This table describes the Global Payroll two-tiered approach to currency codes:

Tier	Currency Code Use
Pay Entity	Determines the processing currency for all payees in this pay entity. If no override currency code is present at a lower level, the system assumes that the amounts are in this processing currency.
Definition of database field or element	When you enter a payee's base compensation as a database field, on the Job Table or in the Payee Data component, you can enter a currency code. Also, when you define certain other elements, such as earnings and deductions, you assign a currency code to the definition. Then the system knows that your input for this definition is in that currency. The currency is converted to the processing currency for gross-to-net processing.

In Global Payroll, you must enter a currency code every time you enter a monetary value on a page. The currency code designates what monetary unit you are entering.