Bank Transfer

The logic of salary transferring to multiple banks is discussed in this section. The bank details for the salary to be transferred are captured in this form.

· Employees bank account numbers must be available and Pay process has to be completed for the month.

This form shall be visible to all employees to whom the visibility is given in Setup HRMS ® Module Role Mapping/ Module Administration.

During the salary processing, each component will be converted to base currency as defined in the pay group master. Net salary is arrived as total earnings less total deductions. This net salary has to be transferred to multiple banks as per the percentage defined in the employee bank master.

The net salary will be prorated as per the percentage and the result will be converted to bank currency as per the bank exchange rate. Similarly, it is done for all the others banks.

The bank transfer letter will be generated as per the standard format in excel, which can be converted to CSV file. This report will contain the multiple banks of the employee with converted amount and currency of the bank.

The net salary will be prorated as per the percentage and the result will be converted to bank currency as per the bank exchange rate. Similarly, it is done for all the other banks.

Employee	Bank	Bank Currency	Percentage
Employee 1	Standard chartered bank	AED	30
Employee 1	HSBC bank	USD	70
Employee 2	Standard chartered bank	AED	50
Employee 2	HSBC bank	USD	50

Emp	Bank	Bank Currency	% to transfer	Salary base currency	Net pay amount in base currency	Prorated amount as %	Exchange rate	Bank transfer amount in bank currency
Emp1	Standard chartered bank	AED	30	AED	5000	5000*30/1000 = 1500	1	1500 in AED
Emp1	HSBC bank	USD	70	AED	5000	5000*70/100 =3500	1 AED = 0.271741 USD	3500*0.271741 =951.0935 in USD
Emp2	Standard chartered bank	AED	50	USD	10000	10000*50/100 =5000	3.67998	5000*3.67998 =18399 in AED
Emp2	HSBC bank	USD	50	USD	10000	10000*50/100 =5000	1	5000 in USD

These employees will be reflected in the bank transfer letter of the bank, as per their pay group corporate bank.

E.g., Employee 1 is part of Jebel Ali AED pay group and the corporate bank of the pay group is Standard Chartered Bank AED, hence in the Standard Chartered AED bank transfer letter, both the bank details of employee 1 (SCB 1500 AED, HSBC 951.0935 USD will be reflected.)

Employee 2 is part of Jebel Ali USD pay group and the corporate bank of the pay group is Standard Chartered Bank USD, hence in the Standard Chartered USD bank transfer letter, both the bank details of employee 2 (SCB 18399 AED, HSBC 5000 USD will be reflected.)

Employee	Net salary	Currency
Employee 1	5000	AED
Employee 2	10000	USD