The Currency Conversion topic contains detailed employee personal and work information. This topic has the parameters listed below built in so that you can use them for exchange rate conversion and historical reporting.
Note: The report writer must create custom fields for the parameters Destination Currency and Rate As of Date, so that these parameters can be used in the report.
Destination Currency Parameter
Displayed as a drop-down list in the run report dialog box. Users can select an ISO currency code from the list, and Dayforce converts amounts from any other local currencies into the selected currency. For example, a manager in the United States has employees in the United States, Canada, United Kingdom, and Australia, who are all paid in their respective local currencies. This parameter allows the manager to select the ISO code for the US so that all of the employees' salary amounts are displayed in US dollars.
The currency conversion is based on the exchange rates configured in System Admin > Exchange Rates. You must have a base currency and at least one other currency configured for this parameter to work.
Note: While it’s possible to allow multiple selections for this parameter, it’s recommended to allow only single selections. If a user selects multiple currencies when they run the report, Dayforce converts only to the first selected currency and ignores the others. Also, the currency symbol for the destination currency isn’t displayed on the report output. Allowing multiple selections could cause confusion for users who run the report.
As of Date Parameter
Allows users to generate the report as of a specified date. Dayforce performs the currency conversions according to the exchange rate that was configured as of the selected date.
The Currency Conversion topic contains fields under the following entities:
- Department
- Employee
- Employee Employment Status
- Employee Work Assignment
- Employment Status
- Employment Status Group
- Job Assignment
- Location
- Location Hierarchy
- Pay Class
- Pay Group
- Pay Policy
- Pay Type
- Pay Type Group