Multicurrency Support for Payslips Page
Configure the payslip page to support multicurrency payments.
A typical international organization, such as a United Nations organization, has employees working in many different countries. These employees often receive salary payments in a currency other than their base currency, such as the currency of their work location or the currency of their home country. The base currency is the currency of the legislative data group (LDG) you belong to.
In some instances, the employee chooses to receive salary payments split between multiple currencies. For example, John opts to receive 50% of his salary in GBP and remaining pay in the bank account of his home .
John has a calculated net pay of 1000 USD of which 50% converts to 375 GBP and the remaining 50% is 500 USD. The payslip page displays a net pay value in the base currency.
- Create an organization payment method with payment type of international transfer.
- Configure personal payment methods with an international
transfer payment type and associate to the international bank
accounts.For our example:
- Define two bank accounts and two personal payment methods for John, one for the US and one for the UK.
- When you create the personal payment method for the UK bank account, select international transfer as the payment type and associate the UK bank account.
- Enable the ORA_PAY_PAYSLIP_DISPLAY_NET_PAY_BALANCE_CURRENCY for the payslip page to reflect correct net pay amount, in the base currency of the LDG.