Define Currency Basic Data for Projects

Explanation

This activity is used to define currency rate types used for accounting and budgeting and forecasting on the project. It is optional to use multicurrency budgeting and forecasting and/or project currency. It is also used to define a parameter for validating moved values when assigning ETC on a forecast.

Prerequisites

• Currency rate types must be be defined in Accounting Rules/Currencies/Currency Rate Types window.

System Effects

• If Budgeting and Forecasting Currency Rate Type and Project Currency Rate Type is defined the currency values will be calculated and saved in the Activity/Connections tab

Window

Project

Related Window Descriptions

Project/Currency

Procedure

Use the following procedure to define the project specific currency rate type for accounting:

1. Open the Project window, and query for the project on which the project specific currency rate type for accounting should be defined.
2. Click on the Currency tab.
3. In the Project Specific Currency Rate Type for Accounting area, enter the ID of the currency rate type in the Currency Type field or select a value from the List of Values.
4. Save the record.

Use the following procedure to define the budgeting and forecasting currency rate type:

1. Open the Project window, and query for the project on which you would require the budgeting and forecasting currency rate type to be defined as an option.
2. Click on the Currency tab.
3. If multicurrency budgeting and forecasting is to be used, click the Budget In Multicurrency checkbox.
4. In the Budgeting and Forecasting Currency Rate Type area, enter the ID of the currency rate type in the Currency Rate Type field or select a value from the List of Values.
5. Save the record

Use the following procedure to define project currency and a project currency rate type:

1. Open the Project window, and query for the project on which you would require the project currency and project currency rate type to be defined as an option
2. Click on the Currency tab.
3. In the Project Currency area, enter the currency code of the currency that shall be used as project currency in the Project Currency field or select from the List of Values.
4. Enter the ID of the currency rate type in the Currency Rate Type field or select a value from the List of Values.
5. Save the record.

Use the following procedure to define the parameter for validating values in the assigning of ETC values in Forecast Info:

1. Open the Project window, and query for the project on which the parameter may be selected.
2. Click on the Currency tab.
3. In the Assign ETC in Forecast Window area select the currency type to use when validating the moved values from the When Moving Values, Validate Remaining Against list.
4. Save the record.