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16/08/2001
Ireland’s companies should prepare for euro payslips
When the Republic of Ireland switches to the euro on 1 January 2002, one of the first visible signs for the working population will be receiving the euro amount on their payslips.
Belfast-based ICS Computing, which has over 35 years experience in providing payroll services to companies in the Republic, is working flat out to ensure the transition is as smooth as possible.
Des Adams, Implementation Manager at ICS, said: “The option is there for companies to operate a Euro denomination payroll. The majority though, still run a payroll processed in Irish Pounds - with some giving the euro equivalent value for gross and net pay.
“We have encouraged clients to include this option because it will make it less bewildering for employees on 1 January 2002 when we switch to the euro.”
From 1 January, all payrolls will be based on the euro denomination. ICS Computing is currently working on the conversion of values held in the payrolls and will be introducing revised PRSI tables.
The company will also be accommodating the recent request from the Irish Government to provide the Irish Pound values for gross and net pay, as well as the conversion factor used, on payslips for a period of three months after the euro switchover.
ICS is also offering to convert the payroll histories of its clients into euros so that companies will have a consistent currency reference for management reporting and analysis. (MB)
Belfast-based ICS Computing, which has over 35 years experience in providing payroll services to companies in the Republic, is working flat out to ensure the transition is as smooth as possible.
Des Adams, Implementation Manager at ICS, said: “The option is there for companies to operate a Euro denomination payroll. The majority though, still run a payroll processed in Irish Pounds - with some giving the euro equivalent value for gross and net pay.
“We have encouraged clients to include this option because it will make it less bewildering for employees on 1 January 2002 when we switch to the euro.”
From 1 January, all payrolls will be based on the euro denomination. ICS Computing is currently working on the conversion of values held in the payrolls and will be introducing revised PRSI tables.
The company will also be accommodating the recent request from the Irish Government to provide the Irish Pound values for gross and net pay, as well as the conversion factor used, on payslips for a period of three months after the euro switchover.
ICS is also offering to convert the payroll histories of its clients into euros so that companies will have a consistent currency reference for management reporting and analysis. (MB)
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Package helps Irish companies to prepare for euro
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COMPANIES WARNED NOT TO IGNORE EURO
SMALLER companies who occasionally trade in mainland Europe and Eire have been warned not to ignore the debate on whether the UK will enter the single currency.
COMPANIES WARNED NOT TO IGNORE EURO
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
