Coinage Analysis

When employees are paid by cash it is useful to produce a coinage breakdown.  This highlights the number of coins or notes that are required of each denomination overall for the whole payroll and per individual.

It is possible to extract reports showing a coinage breakdown per individual and in summary giving a total number of notes/ coins and value per denomination.  

The Coinage Table needs to be set up first and it is necessary to ensure that each employee being paid by cash has the 'Payment Method' field set to Cash in that person's Employee Master record.  For more information on setting up the Coinage Table see: Coinage.  For more information in setting the Payment Method to Cash, see: Pay Details Tab

Net Pay Rounding

The coinage system can be used to round the Net Paid Amounts to the lowest denomination entered into the Coinage Table.

To round the Net Pay amount using the coinage denominations setup in the Coinage Table put a tick against  'Round Net Pay' on the Coinage Table screen.  The system will now advance each employee an amount that will bring the Net Pay up to the lowest available coinage denomination on the Coinage Table.  Notice the 'Rounded Pay' amount against each employee's 'Payslip Input' in the current period.

Rounding Recovery

The value of the rounding advances given to employees can be recovered automatically in the next payroll period by placing a tick in 'Recover Rounded Amount' on the Coinage Table screen.  Notice the 'Rounded Pay Recovery' amount against each employee's 'Payslip Input' in the subsequent period.

To print the Coinage Reports:

- After processing transactions and when you are ready to pay your employees

- Ensure that the Calculation Routine has been run

- Go to the 'View', 'Payments', then 'Coinage' menu options

- Select 'Detail' for a coinage breakdown by employee or 'Summary' for the total value of each denomination to be paid.

Click this link to see a sample of the 'Coinage Detail'  and this link to see a sample of the 'Coinage Summary'.