Activate Currencies

Use the Activate Currencies page to identify the monetary currencies that your enterprise uses and to set up exchange rates between currencies.

Deltek lets your enterprise track its financial transactions and project performance using multiple global currencies. To learn more about how this works, read the Multiple Currency Overview help section.

If you enable the multiple currency feature, your database automatically changes so that it can track multiple currencies and exchange rates. Additional fields display in the user interface to prompt you to enter currency-related information. Once these database changes are made, you cannot reverse them. However, you can choose to not enable the multiple currency feature now, but enable it later, after you complete the Activation and Setup process.

To set up one or more currencies:

  1. On the Activation menu, click Activate Currencies.
  2. Select Yes or No for the question Do you need to track more than one currency.
  3. Use the remaining fields on the Currency tab to identify your currency (or if using multiple currencies, your main currency) and how it is formatted and named.

    The main (or functional) currency is the currency of the primary economic environment in which your enterprise operates. For example, an enterprise located in France normally uses the Euro as its main currency. For more information about the different currency types used in Deltek, see the Currency Types help topic.

  4. If you selected No in step 2, click Done Activating Currencies to exit this procedure. If you selected Yes, click Enable Multicurrency and confirm your choice.


  5. Click the Multicurrency tab and click + Add Currency.
  6. Enter each currency you use and click Save.
  7. Click the Exchange Rates tab and click + Add Exchange Rate.
  8. Select a pair of currencies, enter an effective date, and enter an exchange rate.

    You do not need to enter information for one pair of currencies (for example, US Dollars to Yen) and also enter information for its inverse (Yen to US Dollars). In fact, doing so can cause incorrect results. Instead, enter information for one exchange (for example, US Dollars to Yen) and let Deltek automatically calculate the inverse (Yen to US Dollars).

    For more information about how exchange rates work in Deltek, see the Exchange Rates Overview help section.

    You can repeat this process for multiple currency pairs. You can also switch back and forth between these tabs, entering currencies and setting up exchange rates.

  9. Click Save.
  10. Click Done Activating Currencies.
Parent Topic: Activation