Using currencies

Currencies are library objects. You can create currencies and edit existing currencies to suit your needs. Although you can create and edit currencies at any time, it may help to set up all the currencies you need before you start creating cost centres and cost rates.

In Library Explorer, the base currency is denoted by ; the exchange rate of other currencies is calculated in relation to the base currency. You can edit the base currency to be whichever currency you want.

You can enter cost and income amounts using whichever currency you prefer. If you do not specify a currency, the default currency is used. You specify your default currency on the View tab of the Options dialog.

If you allocate a number of costs using different currencies to the same task, the total task cost is calculated by summing the amounts together per currency (for example all $ amounts are summed together, all € are summed together etc), then these amounts are converted internally to the base currency, then the total cost of the task is displayed using the default currency.