Exchange Rates
When you post a transaction, Vantagepoint checks to see if the various currency types (transaction, functional, billing, and project) are the same. If they differ, Vantagepoint performs a currency exchange.
Calculations
If the transaction currency is the same as the project or billing currency, when a transaction is posted, the transaction amount is assigned directly to the project or billing amount. However, if the currencies differ, Vantagepoint automatically:
- Calculates exchanges between the transaction currency and the functional currency of the company that owns the project, phase, or task associated with the transaction. The organization structure determines the company that owns the project, phase, or task.
- Calculates exchanges between the functional currency and the project currency and the billing currency, using the fixed exchange rate (if one has been entered).
Daily Exchange Rates
By default, Vantagepoint uses the daily exchange rate in effect on the date that you enter for the transaction. You can override an exchange rate for any transaction. You set up daily exchange rates in
Period Exchange Rates
The period exchange rates that you set up affect consolidated reporting. You establish period exchange rates in