I have a company having company currency $. We have offices overseas and I pay them salary in their own currency. i.e for employee form India in INR and from China in CNY.
Default Payroll Payable account is having currency $.
Please help me to achieve this Multicurrency.
Thanks in advance.
Are they employees of the local company which is overseers ? or the home company? cheers
Thankyou for reply.
They are employees of home company.
Create new GL accounts for payroll with a different currency. Isn’t that possible? So you have payroll is USD, CNY and INR.
Also, Isn’t it just a contract and not a special payroll? Do you pay payroll taxes in these countries? If you are not based there I wonder how you could pay into PPF (as an example), same as if you contracting on UPWORK.com or any other such service like a project work.