Understanding the Hong Kong Banking Process Flow
The Global Payroll banking process brings together payroll data, pay entity source bank data, and payee or recipient bank data. The Hong Kong EFT file creation process extracts data compiled by the banking process according to the type of EFT file that you are creating, merges it with data provided by the Hong Kong country extension, and creates the file for transmission.
Global Payroll handles the banking process as follows:
Runs the payroll process using Global Payroll.
This provides the payment data for the banking process.
Runs the Global Payroll banking process.
Net amounts and recipient payments are calculated by the core prepayment banking process and stored in the GP_PAYMENT result table. The payment status is set to P (prepared). The GP_PAYMENT result table contains one entry for every net pay distribution from every payment included in a calendar run and provides the basis on which an organization pays its payees.
Using Global Payroll for Hong Kong, run the Electronic File For Transfers Application Engine process (GPHK_EFT), which populates the HSBC file used for electronic fund transfer.
In this step, the system selects payees from GP_PAYMENT with the following parameters:
Payment status: P (prepared).
Payment type: 01 (net pay distribution).
Payment method: T (bank transfer).
Currency code: HKD.
The payment status for the selected payees is set to T (transferred) in GP_PAYMENT.
Note: You must run the banking process before the HSBC file generation process.
Field or Control |
Description |
|---|---|
HSBC |
Hong Kong and Shanghai Banking Corporation. |
HSBC file |
Electronic file format, as described by the Hong Kong and Shanghai Corporation Bank (fixed-length file used for electronic fund transfer). |
HSBC EFT data |
Single process used to generate the data required for reporting in the EFT format, as defined by HSBC. |
Recipient |
Any third-party organization that has dealings with the employer using global payroll software. |
Net Payment |
Payment that includes employee salaries. |
Source Bank |
Money sources defined at the pay entity level, from which payroll disbursements are drawn. They identify each funding location and the EFT formats used by each institution. |
The PeopleSoft system delivers a query that you can run to view the names of all delivered elements designed for Hong Kong. Instructions for running the query are provided in PeopleSoft HCM: Global Payroll.