Deltek Vantagepoint Help

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Billing Rates with Multiple Currencies

Certain rules apply when you set up billing rates in a multiple currency environment.

When you select a rate table for a project, the list of available rate tables includes only those with the same currency as the billing currency of the project. For example, if your project's billing currency is euros, the list in the Rate Table field on the Rates tab of Hubs > Projects > Billing Terms lists only those labor rate tables with a billing currency of euros.

Therefore, you must establish rate tables with billing currencies to support the various projects that you undertake. For example, if you know that you will be billing projects in Canadian dollars, you must set up billing rate tables that include Canadian dollars.

Select a Rate Table's Currency

Use the Currency option on the forms in Settings > Rate Tables to select each rate table's currency. By default, Vantagepoint uses the functional currency of the active company. You can click the Currency option to see a list of all enabled currencies for the active company, and then select the one that you want to use for the rate table. However, you cannot change the currency if the rate table is already being used for a project.

Labor Billing Rates are Rounded

Vantagepoint rounds labor billing rates to the number of decimal places for the applicable billing currency, when either of the following conditions is met:

  • The labor billing method is cost-based. Vantagepoint assumes that cost rates having a precision greater than that of the billing currency are relevant to job costing needs only.
  • Any significant multiplier (anything other than 1) is applied to the rate to be used for calculating the labor line item extension, which is also the rate shown on the invoice.

In cases where the rate is acquired from a billing rate table, and no significant multiplier is applied to that rate for labor line item extension and display purposes, then any significant digits in the rate beyond those of the billing currency are applied and displayed.