inlaying veneers

I’ve been working with veneers for a couple of years now, and have gotten comfortable with them. I had a friend give me an idea for something, and this may be something like marquetry. when I make my trays, she suggested that I use a contrasting wood to inlay an initial into the flat part of the tray.
The way I was thinking of doing it, is using a template to cut the letter out of both veneers. cut the body veneer first and then use it to cut the inlay veneer. after both are cut lay then out and keep them together with veneer tape until I press it.
Anyone else have a better way or another idea on doing this

-- Joey, Magee, Ms http://woodnwaresms.com