Many projects involve multiple currencies, especially when goods and services are procured from overseas. Connected Cost allows you to work in a local base currency and track commitments made in foreign currencies. Currency exchange rates can also be used for portfolio reporting in a single currency.
Note: Base currencies can be different between projects within the same organization.
Defining Currencies and Exchange Rates:
- Select Cost Administration > Organization Data > Currency. Note: the base currency is created by default and used for budgeting purposes.
- Click the Add button.
- Select the currency from the drop-down list.
- Enter the desired rate for converting Budget, Actual, and Forecast amounts.