Revenue Forecast Data and Multiple Currencies

If your enterprise uses multiple currencies, the project and billing currencies that are selected for a project are also applied in revenue forecasts.

Stored Currency

If you have different currency codes assigned to the project and billing currency fields in your project, you can also choose the currency that is stored for the revenue forecast in Other Actions > Currency to Store. The Currency to Store option is available if you have access rights to modify plans, your enterprise uses multiple currencies, and the project is assigned different project and billing currencies. The option is not available if you already have the same currency code assigned to the project and billing currency fields.

After you choose which currency to store, Vantagepoint uses the period exchange rates to calculate the values for the other side. You set up period exchange rates from one currency to another currency for a specific period in Settings > Currency > Period Exchange Rates. For details, see Period Exchange Rates.

When you change the currency to store, if there are existing revenue forecast values stored for this project, Vantagepoint displays a confirmation message informing you that exchange rates will be applied between the previously selected currency code and the new currency code before storing the exchanged values.

Displayed Currency

The currency displayed for your revenue forecast is indicated in the Show field on the Revenue Forecast form. If your project is assigned different project and billing currencies, you can use the Show drop-down list to choose Project Currency or Billing Currency. When you change the currency to show, the columns on the Revenue Forecast form update to reflect your selection.

If your choice for the currency to display from the Show drop-down list is not the same as the stored currency for the project, Vantagepoint displays a message to remind you that the revenue forecast values are being stored in a different currency. If you then edit revenue forecast values in the non-stored currency, the currency exchange rates that apply to your entries may cause your values to be rounded. To retain precise stored amounts, you should enter values only in the stored currency.

Applying Exchange Rates

If your project and billing currencies are the same, then no exchange rates are involved. If they differ, Vantagepoint applies exchange rates between them, using the average exchange rates established in Settings > Currency > Period Exchange Rates.

The appropriate average exchange rates from Period Exchange Rates are applied based on dates, as follows:

• Vantagepoint uses the revenue forecast plan date range for the lowest WBS level to find what fiscal periods they fall in by comparing the revenue forecast start and end dates to the Period Start and Period End dates in Utilities > Periods > Period Setup.
• After the fiscal period is identified, Vantagepoint locates the same period in Settings > Currency > Period Exchange Rates, where the project's two currencies appear in the From Currency and To Currency columns. The Average Rate for the line is used.

• Vantagepoint always attempts to apply a direct exchange, based on the exchange rate table set up for your company. If a direct exchange is not found for the period, Vantagepoint uses previous periods. If no direct exchange is found to use, it uses the available inverse exchange. If there are no direct or inverse exchanges to use, Vantagepoint uses the triangulated exchange rate based on the project's project and billing currencies and the Triangulation Currency assigned to the project's company in Settings > Currency > Options.

• It is recommended that you update the Period Exchange Rates with the latest average rates as soon as they are available, so your revenue forecast plans represent the most up-to-date information for multicurrency projects.