Project Administration

In IMC, projects must be assigned designations for both Project and Invoicing Currency and can optionally include Project specific currency and exchange rate overrides. This configuration is completed at Project Administration>Projects>Multi-Currency Tab. These settings impact how the project and invoicing amount currencies are determined on a given transaction. For instance, when a Purchase Journal (USD) is entered against a project and a Currency override exists on the project for the specified Purchase Journal evaluation date and transactional currency, the defined rate override(s) will be used for the project and/or invoice currency amounts respectively. If this match is not found, these amounts will be determined using the currency exchange relationship defined between the transactional currency (Purchase Journal) and main project currency.

Settings

This section holds the Project and Invoicing currency designations. Note the designated currencies must be configured in General Accounting>Multi Currency.

•	Project Currency - The currency used in project administration and project planning for the selected project. Project Management reports can optionally print using this currency for the selected project.

•	Invoice Currency - The transactional, real world currency used in invoicing (Sales Journal) for the selected project- used for project contracts and invoicing.

•	Project Equals Invoice Currency - Indicates that the Project currency will always equal the Invoice currency and disables the ability to set Project currency and exchange rate overrides.

•	Separate Exchange Rates - Allows currency and exchange rate overrides for both Labor and Non-Labor

Currencies

This section defines the project specific currency and exchange rate overrides for the previously designated Project and Invoicing currencies. The available overrides are derived from the defined exchange relationships (General Accounting>Multi-Currency) and only affect project and invoicing currencies for the selected project.

•	Use - Indicates the ability to utilize the specified currency

•	% Button - Sets the exchange rate override.

Rate Tester

This utility provides an evaluation of the rate exchange between the specified originating currency and the destination Invoice and Project currencies accounting for configured overrides.

•	Amount - Originating currency amount to test.

•	As of Date - Date by which to test the rate exchange.

•	Invoice Labor - Converted destination Invoice currency amount for Labor.

•	Invoice Non-Labor - Converted destination Invoice currency amount for Non-Labor.

•	Project Labor - Converted destination Project currency amount for Labor.

•	Project Non-Labor - Converted destination Project currency amount for Non-Labor.

Expense Codes

If utilizing IMC, a currency must be designated on each Expense Code in Project Administration>Expense Codes. This assignment governs the currency environment the code can be utilized in. Though the currency defaults to the Base System Currency, an expense code can be assigned any system-defined currency. Please note, each expense code's currency can also be overridden when adding the expense code to an Expense Group in Project Administration>Expense Groups. For instance, if there is an expense code TRAV for travel, an expense group could hold multiple TRAV expense codes with different currencies.

•	Currency - Represents the transactional currency in which the expense code is utilized. For example, if entering a Purchase Journal using an AP Account (USD) only Expense Codes of similar currency would be available to the transaction.

Rate Schedules

If utilizing IMC, a currency must be designated for each Rate in a Rate Schedule. This assignment governs the transactional currency the rate can be utilized in. Though the currency defaults to the Base System Currency, a Rate can be assigned any system-defined currency. This set up is completed from the Rate Editor in Project Administration>Rate Schedules.

Rate Editor

•	Currency - Represents the transactional currency in which the rate is utilized. For example, if entering a Time Sheet (U.S. Dollars) only Rates of similar currency would be used in bill, cost or pay rate evaluation.