Currency Module
Simple and flexible solution to making payments and invoicing in currency
Merit's currency module has been designed as an additional module for the Merit Payroll and billing solution. The module enables timesheets to be entered in currency for the purposes of paying and billing in currency.
The module was designed with ease of use in mind, as a simple and flexible solution to making payments and invoicing in currency.
The pay and bill elements can be entered in separate currencies as required for your contracts. Payments made in currency are separated from Sterling payments, and if required can be routed through to a separate BACS, or BACS equivalent file. Invoices can be raised in currency via timesheets, or as one off invoices manually for instance for Perm placements.
Postings to accounts packages can be made in currency, or converted to sterling as required. Standard reports will convert currency timesheets to sterling, so an overall view or revenue and margins can be seen.
Features:
- Default exchange rates set on a weekly basis.
- Over-ride exchange rates can be set at a timesheet level.
- Currency markers can be set at a company, office, placement or timesheet level.
- The module works in conjunction with your existing payroll and invoice calculations.
- Accounts postings can be designed as required to post values in sterling or currency as required.
Reporting:
- Currency reporting throughout the system, to flag currency values and distinguish them from sterling values.
- Conversion to sterling for critical reports such as margin and revenue reporting.
- Merit's comprehensive report writing facility can be used to design bespoke reports as required.
Get in touch with us and find out how you can benefit.