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Payrolls pegged to a foreign currency with base salaries in LKR

This article is for Owners and admins who use Humanised


Step 1 – Switch on Foreign Currency pegged payrolls

Select the preferred base currency as foreign currency. Please make sure that pay details in master data and uploaded via CSV are in LKR

Step 2 – Set up the preferred calculation policies

Preferred pay item categories – Depending on your company policy the pay item categories that you’ll consider for the exchange gain allowance will differ. In most cases the basic salary and fixed allowances (since they remain static from month to month) are considered to calculate the variance amount. You have the choice to select any or all of these three categories.

Foreign currency pegged payrolls LKR
Figure 1 - Foreign currency settings

Step 3 – Create payrun

When you create a payrun, you’ll be asked for the current exchange rate. The system will calculate the variance of salary when calculated between the two and add the relevant amount to pay details. If you have chosen to add a a seperate allowance, you will see a new pay item under variable allowance category in the name given by you. If you have chose to add to the basic salary, the variance will be added to the basic salary pay item.

Step 4 – Payslip

Payslip of the employee will denote the exchange rate for the month too.

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