Currency Options

Whether you use a single currency or multiple currencies, you need to set up currency codes, descriptions, symbols, and units. You also enable multiple currencies in Currency Options.

Firms Using One Currency

If your firm uses one currency, you only need to set up a single functional currency.

Firms Using Multiple Currencies

To use multiple currencies, you first enable the Multicurrency feature to display currencies on the Currency Options form (Settings > Currency > Options). You then set up each currency that is used by all companies in your enterprise, including the code, description, symbol, and unit for each currency. You also specify the functional currency. Optionally, you can specify the triangulation currency, which is used in calculating rates when a direct or inverse exchange is not possible.

For example, your firm may have companies in Canada, France, England, and the US. At a minimum, you should enable Canadian dollars, euros, British pounds, and US dollars. After you enable all appropriate currencies for use throughout your enterprise, you use the company-specific section of the Currency Options form to select currencies on a company-by-company basis.

The International Organization for Standardization (ISO) maintains a list of standard codes and descriptions for international currencies. If you add a new currency, beyond those that come with Vantagepoint, Deltek recommends that you use ISO standard codes and descriptions. See http://www.iso.org for more information.

To set up and maintain daily and period exchange rates, use the other forms in Currency Settings.

To learn more about multiple currencies, see the Concepts section of the online help.