On the Standards tab, you can specify a currency or currencies that will be used on the project. The currency you specify here will be used throughout the project, for example for cost business processes, the cost sheet, etc. You must define at least one currency. If the project is international, you can define multiple currencies in which to display data, although only one can be the default project currency.
Note: The list of available currencies is maintained in Standards & Libraries > Exchange Rate.
To define project currency for a project or project template
- Open the Standards tab of the Project or Template window.
- In the Currencies section of the window, click the Add button. The Edit Exchange Rate window opens.
Note: The Base Currency shown at the top of the Edit Exchange Rate window is the Base Currency set up for your company. For example, if yours is a company in the U.S., then the Base Currency will likely be the United States Dollar (USD). If your company does business internationally, you may make other currencies available for project use.
- Use the information in the table below to add a currency.
- Click OK to save and exit the Edit Exchange Rate window.
- In the Standards tab, select a Project Currency from the drop-down list. This will be used as the default project currency. Once you have selected a project currency and saved the template or project, it cannot be changed. The selections are generated from the Currencies list you defined.
- Click Apply to save changes, or OK to save and exit.
In this field: | Do this: |
|---|---|
Currency Name | Select the currency you want to use for the cost functions in this project. If the currency you selected is other than the company Base Currency, then complete the following fields. |
Rate | Enter an exchange rate to use for conversion calculations. From the drop-down list select one of the following:
|
Hedge? | If the Hedge selection is Yes, then the Hedge rate is used for conversion calculations. Otherwise, the Float rate will be used. |
Rate | If an amount is entered for the Rate, then the hedge rate is used until the amount specified is reached (by spends) and then the system will revert back to the normal rate. |
Amount | If Float is specified, Unifier will retrieve the rate, based on today’s date and time. If Peg rate is specified, the field will be editable. |
Comments | (Optional) Add any comments that might be necessary to explain the default currency. |
Note: Once a currency is selected and saved, it cannot be modified. The remove option is made available to enable you to remove the additional currencies and unsaved changes.