This page (revision-19) was last changed on 07-Jul-2022 01:31 by admin

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Page References

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Net Pay Help
Net Pay Help

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Difference between version and

At line 4 changed one line
! [A PowerLink Solution:|https://www.yearonesoftware.com/www/PowerLink|target='_blank'] \\Payroll calculations in Net Foreign Currency
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%%columns
! [A PowerLink Solution:|https://www.yearonesoftware.com/www/PowerLink] \\Payroll calculations in Net Foreign Currency
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target='_blank'
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[{Image src='LeftMenuFooter/netpaydiag.jpg'
link='attach/LeftMenuFooter/netpaydiag.jpg'
alt='Net Pay Solution Diagram'
target='_blank'
}]
/%
!!Net Pay in Foreign Currency
The Net Pay in Foreign Currency solution runs in PowerLink, with Attache Payroll, reading the Attache Timesheets, calculating Tax & GrossUp and updating the timesheets. This
keeps all the reporting information in the Payroll itself, including
the exchange rate used for calculations marked as a comment on the
timesheet as a permanent record.
%%columns
!! NET Pay Expat Contracts
Net Pay in Foreign Currency is often challenging to manage.
For example, paying an Australian Expat worker in Papua New Guinea with a contract negotiated in Net Australian Dollars…
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!! Currency at current rate
First, it is necessary to represent the AUD amount in PGK (PNG Kina). \\ \\ PNG Tax needs to be reported in PGK, so it makes sense to hold and calculate the payroll in PGK.
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!! Grossup & Reporting
Then, we can calculate the tax to be paid on the Net amount in PGK,
and apply the correct Tax, GrossUp and Exchange Rate comment to the
timesheet. \\ \\ Finally, we can pay to multiple bank accounts in different currencies and email/print/PDF Payslips in dual currency.
/%
Net Pay Solution written by Geoff Tollefson (2005-2020) and Paul Kelly (2015-2020)
\\ \\ \\ \\ \\ \\ \\ \\ \\ \\
This page (revision-19) was last changed on 07-Jul-2022 01:31 by adminTop