Currency & Rates Management
You can configure multiple currencies and exchange rates in Fluid.
Currencies and rates can be managed and updated in one of two ways - both available from the Financial Administration page and both outlined in this article:
by using the user interface (Currency Management page)
by using the bulk edit functionality.
To access the Financial Administration console, select the Financial Administration link from the drop-down menu under your Avatar.
To access the Financial Administration console and edit currencies and rates you will need Application Administrator or Financial Administrator access.
Configuring Currencies and rates using the Currency Management page
From the Financial Administration Console select Currency Management under Financial Settings.
From here you can either EDIT currencies by clicking on the edit pencil icon in front of the currency entry or create a NEW currency entry by clicking on ADD CURRENCY.
Make your changes and additions to the currency dialog and save your changes. See the table at the bottom of the article for a full description of each field.
Currency & Rate Download/Upload
Alternatively, you can use the bulk edit functionality to create or edit currencies. Scroll down to the Data Management section of the page, and download the Currency & Rates to excel by selecting DOWNLOAD.
Make your desired changes to the excel spreadsheet that you downloaded. See the table at the bottom of the page for a full description of each column.
When you are happy with your changes, select UPLOAD and then UPLOAD DATA to upload your changes.
Field and Column descriptions
There are 2 tabs on the download file.
The table below describes the columns on the FIRST TAB.
Column & Title in upload file | Field title in on-screen dialog | Description | Data Type | What happens if field is left blank in upload file? |
A. Code | N/A | The entries currency code (e.g. USD, GBP, etc) | Text | Mandatory field. Must be populated for an entry to be created. |
B. Name | Currency Name | Full descriptive name for the currency entry. (e.g. United States Dollar, Great British Pount, etc) | Text | Field is left blank. |
C. IsDefault | Default Currency | Set to TRUE (Yes) to identify the entry as the main/default reporting currency for the instance. Only one currency can be set as default. | Yes/No | Field is set to FALSE (No). |
D. RateToDefault | Conversion rate to default currency | The current conversion rate to the default currency (see note below) | Numeric | Field is set to 0,00 |
E. RateToRestated | Conversion rate to default restated | The restated conversion rate to the default currency (see note below) | Numeric | Field is set to 0,00 |
F. Locked | Locked | The currency is not available for selection by users of the system. | Yes/No | Field is set to FALSE (No). |
G. Active | Active | The currency is | Yes/No | Field is set to FALSE (No). |
H. Symbol | Symbol | The currency symbol (e.g. $, £, etc) | Text | Field is left blank. |
I. Guid | N/A | The unique string identifier for the currency in Fluid. | Alphanumeric | A new currency is added. |
RateToDefault: The current conversion rate to the default currency. RateToDefault is typically maintained and updated fairly regularly (monthly) for a more real-time FX value on project financials.
RateToRestated: The restated conversion rate is typically the spot rate to the default currency for the financial year. This allows project financials to be displayed at a single rate eliminating FX fluctuations from the reporting. Restated values can be seen by clicking on 'Show Restated' under the financials section of Project Workspaces and or on financial reporting.
Below is a mapping of the column letters in the upload/download extract against the fields in the on-screen dialog.
TAB 2 allows you to set month on month conversion rates for each of the currencies in turn for both default and restated rates. If no monthly values are set, the default conversion rate will apply.
To configure specific rates month on month, add headers for each month in turn (enter the month headers by typing the first 3 letters of the month and the year - i.e. Nov 2019) and enter the required conversion values for each currency. Any values defined on the Rates tab will override the currency rate values set in the UI.
Column & Title | Description | Data Type | What happens if this field is left blank? |
A. Currency | The full descriptive name for the currency entry. (e.g. United-States Dollar, Great British Pound, etc) | Text | Mandatory field. Rates will not be updated without this field. |
B. ConversionTo | The rate to which the currency can be converted to. It may either be Default or Restated. | Text | Mandatory field. Rates will not be updated without this field. |
C - end. Monthly conversion Values | The rate conversions for each month. | Numeric | No value is uploaded |