To use currencies in Project

If you work with Project you use a number of different currencies on top of the currencies you defined for your company:

  • The project currency.
  • The business partner currencies.
  • Other currencies.

Project currency When you define a project you can select the project currency from the currencies defined for your company. Select the currency that is the most convenient. This does not need to be one of the home currencies. The default project currency is the local currency of the logistic company in which you define the project. The following amounts are expressed in the project currency:

  • The contract amount and all the other amounts that you enter when you define a project.
  • The amounts in the budget cost analysis data
  • The amounts in project monitoring and performance measurement In addition, the project currency is the default currency for other amounts that you enter for the project.

Business partner currencies When you enter the project's invoice-to business partners, you can specify the contract amount for each business partner in the business partner currencies. The invoice-to business partner's currency is the default. This currency is used for all invoice transactions.

If there are multiple business partners for the project, the project consists of multiple contract amounts. Each contract amount can be expressed in a different business partner's currency. You can also specify a number of contract amounts, in different currencies, that together form the business partner's full contract amount.

The following amounts are expressed in the business partner currency:

  • Advance payment requests.
  • Settled advance payment request lines.
  • Element contract data.
  • Installments.
  • Holdback amounts.

Other currencies You can choose a currency from the currencies defined for the company in which you define the project, for the following processes:

  • Budget lines.
  • Time-phased-budget versions.
  • Rates and prices of the cost objects.
  • Labor surcharges.

These currencies do not need to be the same as the home currencies of the logistic company in which you define the project, or of the financial company of the enterprise unit. In each situation you can use the currency that is the most convenient, but the default is the project currency.

Related topics