Exchange Rates

Use the Project Billing Information screen (Projects\Maintain\Billing) to make a change to the billing currency.  You must recalculate the bill after this change has been made.

If you have posted billing in one billing currency and need to change the current billing to another currency, you must first run the Update Billing Currency Amounts toolkit.  This toolkit will restate the billing history into the selected new billing currency.  

You do not need to access this subtask if the billing and functional currencies are the same.  The functional currency of the database will automatically display in the Billing Currency field and all exchange rates will display as "1.0."

The billing currency for this voucher displays in this field. This is the currency you will use to print your invoice. If you need to change the billing currency of the bill, do so in the Project Billing Information screen and then recalculate the bill.

This field displays the rate group description used for this invoice.  For those transactions entered without a rate group (the billing and functional currency are the same), this field will populate with the Default Rate Group from the Multicurrency Settings screen.  

If your currency exchange rates are tracked by date, the exchange rate used for this billing to functional will be the date or range of dates in which this invoice date falls. The program will first look to exchange rates by date, then to exchange rates by period. (Exchange rates by period will only be included if the Use period rate, if available checkbox has been selected in the Multicurrency Settings screen.)

If your currency exchange rates are tracked by period, the transaction rate used for this billing to functional exchange will be the period rates (period end rates for the last day of the period, and period average rates for all other dates) in which this rate date falls.

This field is editable and if changes are made to this date, the Billing to Func or Func to Euro and Euro to Func fields will default to "0."

This field mimics the Billing to Func field rate when non-Euro currencies are used. When a Euro currency is used, this field will be the product of the Billing to Euro and Euro to Func fields. The fraction that is displayed to the right of the Billing to Euro field is the value of one divided by the Euro to transaction currency exchange rate.

Select this checkbox to prevent this bill from restatement during the Compute/Post Unrealized Gains and Losses process.  This process updates all open invoices in the accounts receivable history with the most recent exchange rates and calculates the unrealized gain or loss.

Select this checkbox if you want to retain the original exchange rate.   You can also select this checkbox in the Project Billing Information screen (Projects\Maintain\Billing).

For those transactions that involve countries that participate with the Euro, this field will be titled Billing to Euro and will display the rate for the invoice to Euro currency. This field will display as Billing to Func if non-Euro currencies are being exchanged.

For those transactions that involve countries that participate with the Euro, this field will be titled Euro to Func and will display the rate for the Euro to functional currency. This field will display as N/A if non-Euro currencies are being exchanged.