Project Properties – Currency

Some projects may require you to define a number of Resources in different currencies based on where (geographically) the Resource is being purchased.

From the Project Properties Currency section, you can define multiple currencies and their exchange rates to be applied to the base resources within your project. This is particularly useful when working internationally, across multiple regions or bringing in resources from outside of your country of operation.

To change the information in this section, click the Edit () button in the ribbon toolbar.

Project Properties window – Currency

PROJECT BASE CURRENCY

The main currency that the project is based on and submitted in can be selected from these options. All resources are converted to the project base currency, and it is these rates that are used when building up costs throughout a project.

NAME	DESCRIPTION
Project Base Currency	The Project Base Currency can be set or changed from this drop-down menu. If changed during a project lifecycle, the new base currency will automatically be added to the list of currencies included in the project.

ADDITIONAL PROJECT CURRENCIES

The Available Currencies section of the window displays a list of all currency codes that can be applied to the project.

NAME	DESCRIPTION
Available Currencies	Allows for different currencies to be added to the currency list via the drop-down menu or by searching for a particular code, currency or country name. Once you have selected the currency you wish to use, click the Add button and it will be displayed in the list below.

AVAILABLE CURRENCIES GRID

Additional project currencies will need to have their conversion rates set after being added. The Project Base Currency conversion rates cannot be modified, nor can you remove it from the project.

The conversion factor (or exchange rate) is set in the grid of Additional Project Currencies. Only one column is required to be completed, as the other will be automatically populated using a reversed factor.

FUNCTION	DESCRIPTION	EXAMPLE
Base Currency To Currency	This column will be used when the exchange rate information is known for the base currency.	Given a project with a base currency of AUD. At the point of entry, known exchange rates may be 2.42 Kina or 0.77 US cents to 1 AUD.
Currency To Base Currency	This column will be used when the exchange rate for the additional currency is known. Values throughout the project specified by this additional currency will be adjusted for calculations to perform correctly.	Given a project with a base currency of AUD. At the point of entry, known exchange rates may be 1.46 AUD to 1 EUR and 1.88 AUD to 1 GPB.