Purpose: The purpose of this exercise is to familiarize you with the data that must be in place before you can do the exercises below.
Create a new project.
Purpose: The purpose of this exercise is to show you how to define a new rate type to use with project currency and multicurrency budgeting.
Windows:
Currency Rate Types
Currency Rate Type | Currency Rate Type Description | Ref Currency Code | Default Type | Rate Type Category |
PRJ RATES | Rates for project currency | USD | No | Project |
Currency Code | Rate | Valid From | Conversion Factor |
USD | 1 | Enter current date | |
GBP | 1.5 | Enter current date | |
EUR | 1.4 | Enter current date |
Note that this exercise requires you to use the company 10 in Race database (or a company with accounting currency USD).
Purpose: The purpose of this lesson is to show you how to initiate the use of alternative project currency for a project.
Windows:
Project
Project Currency | Currency Rate Type |
USD | PRJ RATES |
Note: Changes will not be allowed to the Project Currency field once the project has reached the Approved status.
Now you have selected the project currency to be USD on this project. The currency rates to calculate project currency amounts will be based on the PRJ RATES rate type.