Currencies
Written By Lauri Eurén
Last updated 1 day ago
Operating supports working in multiple currencies. You define the currencies your organization uses and their exchange rate to your base currency, and Operating converts between them so financials can be reported together. This article is for admins setting up currencies.
Before you begin
Financials are enabled for your organization.
You have permission to manage financial settings.
Your base currency
Your organization has a base (default) currency — the currency everything is ultimately converted to for reporting. Every other currency you add has a fixed exchange rate to the base currency (for example, 1 USD = 0.92 EUR). These are rates you set yourself, not live market rates.
Adding and editing currencies
Go to Settings → Financials → Currencies.
Add a currency and set its exchange rate to the base currency.
Save.
Changing a currency's exchange rate recalculates every conversion that uses it — this happens in the background and may take a few minutes to apply everywhere.
Where currencies are used
Project currency — every project has a currency; its budgets, revenue, and costs are stored in it.
Invoicing currency — a project can be invoiced in a different currency from its project currency (see How to create and send an invoice).
Rate cards and cost rates — billing and cost rates are defined in a currency; Operating converts them to the project currency using your exchange rates.
Reporting — organization-wide reports convert everything to your base currency, so figures are comparable across projects and clients.