Reporting and Multiple Currencies

When you track multiple currencies in Deltek, you can generate reports targeted at the special business needs of a multicurrency enterprise.

For example, you can generate:

• An Income Statement for a London company, with all amounts shown in British pounds, the company’s functional currency.

• An Aged Accounts Receivable report for the Asian region, which includes all invoices with a transaction currency of Japanese yen, Chinese yuan, or Hong Kong dollars.

• An Aged Accounts Receivable report with a presentation currency of Canadian dollars, used to report on invoices for a client for whom you do work in Canada, the United States, and Mexico.

• A Project Summary report for all active hospital projects, managed in any currency.

The currency options available depend on the type of report you generate.

Multiple Currencies on a Single Report

Certain reports display multiple currencies. For example, an Employee Expense report can contain line items in different currencies and a project report can include projects managed in different currencies.

If a report contains a total line for amounts in different currencies, the total amount displays as ####.

Note that all reports that support multiple currencies give you the ability to sort and group by functional currency code, project currency code, or billing currency code.

Currency Symbols and Codes on Reports

For each report available from Deltek Reporting, you can select settings to help you track currencies, including:

• Use currency symbol: Includes the appropriate currency symbol, such as $ or €, for each amount.

• Use currency code: Displays the three-character currency code, such as USD or EUR, in place of the currency symbol.

These options are found on the Format Currency dialog box, which you access from the Layout tab on the Report Options dialog.

Single Presentation Currency

Use a presentation currency to generate a report with all amounts expressed in a single currency. For example, if you generate a Project Summary report that includes projects managed in multiple currencies, but you want all project financial data to appear in euros on the report, you would pick euros as the presentation currency.

You can specify a presentation currency on general ledger reports, some CRM reports, and certain project reports. You can specify as the presentation currency any currency enabled for use by your enterprise. On the General tab of the Report Options dialog, specify the Presentation Currency option, then select the date that Deltek should use to calculate currency exchange rates.

Consolidated Reporting

If you use multiple currencies and have multiple companies, you can generate consolidated financial statements for multiple companies that have different functional currencies.

Tax Reporting

If tax auditing is enabled for the company, when you set up a tax using Settings > Accounting > Taxes, you specify a currency for that tax. In most cases, the tax currency is the currency in which the tax is reported and paid to the taxing authority. Deltek stores tax amounts for transactions in the tax currency, as well as in the transaction currency and other relevant types of currency.

When you generate the Tax Analysis report to review purchases and sales, you can display tax-related amounts in the currency associated with each tax. This option allows you to see all amounts for a given tax in the same currency, regardless of the transaction currencies involved. (You can also use transaction currencies or functional currencies for this report.)