Currencies and FX Rates Editor

This form is reached by choosing View | Administration | Setup heading | Currencies and FX Rates

Permissions and Settings

To make changes on this tab you must have the global permission Currencies and Foreign Exchange Rates set to Update.

You cannot future date exchange rates.

Currencies are applied to:

Invoices

FX rates for invoiced expenses are determined by the engagement's billing currency and the incurred currency. The FX rate is locked in place at the moment a time card is approved. A recalculation can be forced by unapproving and reapproving the expense or by transferring it to a project (including the project it is already on). Please see the FX Rates, Expenses, Invoicing, and Reports help page to learn more about how FX rates work with invoicing.

Reports

Reports use the bolded currency by default. If you choose to change the report currency, then the FX rates specified on this page are used for conversion.

Expense Entry

FX rates for expense entry can be driven by this editor, by a spot rate feed, or by manual entry. Please see the FX Rates, Expenses, Invoicing, and Reports help page to learn more about how FX rates work with expense reporting. Although expense reporting can be driven by the FX rates specified here, most organizations are best off using our XE.com spot feed.

Manage Currencies

The main screen shows all the active currencies in your installation. Here you can add, edit, delete, and inactivate them. To view inactive currencies, tick the Inactive checkbox.

Add

Click the Add Currency box at the bottom of the main window. (Note that if you add a new currency for invoicing, you also need to create a new rate card denominated in that currency.)

Edit

Double click on any currency. See below to learn more about the editor.

Delete

Right click on any currency and choose Delete Currency. You cannot delete your base currency, the one in bold. If a currency is in use on a rate card then you will not be able to delete it. You should inactivate it instead.

Inactivate

Edit any currency and tick the Inactive checkbox. You cannot inactivate your base currency, the one in bold.

Mass Update Exchange Rates

Most organizations will update all their exchange rates at the same time. Often once a month. In order to expedite this process Projector provides a dialog where you can update all your FX rates for a single date at once. To start, click the Update Foreign Exchanges Rates button at the bottom of the browser.

In the dialog, choose a new Effective Date. In one of the Value columns enter the FX rate. The other column will autocalculate. FX rate changes only affect expenses that are approved after your changes or are transferred after your changes.

You cannot future date FX rates.

Currency Editor

When you edit a currency you are presented with the following dialog. It contains a history of all your FX rates. See the table below for an explanation of each control. FX rate changes only affect expenses that are approved after your changes or are transferred after your changes.

Supported Currencies

As of July 2021, Projector supports 153 currencies.