Choose a company currency for financial reporting and set the conversion rate for the other currencies that you use.
Say, your company currency is US dollar and you record SaaS costs in US dollar, euro, and pound sterling. You get a unified and simplified view of your contract and endpoint costs in your company currency regardless which other currencies are used for recording costs.
Tip
Left-click and hold the mouse button to enlarge the illustration.
By default the company currency is set to USD or US dollar, the conversion rate is set to 1, and the number of decimal places is set to 2.
You can select the following currencies as your company currency:
- GBP (pound sterling)
- Euro
Tip
Need to use another currency? See Adding currencies.
Setting the company currency
By default, the company currency is set to US dollar.
- Click Configuration > General > Preferences.
- From the Currency list, select the company currency.
Result
The conversion rate for the company currency is set to 1 and the number of decimal places is set to 2.
Important
In the unlikely event that you want to change your company currency, please contact Support.
Modifying your company currency
You can change the number of decimal places that are used for your company currency. By default, the number of decimal places is set to two.
- Click Configuration >Data Model > Objects.
- Type Currency in the search field.
- Click the number in the Total records field.
- Click the currency that you use as your company currency.
- Enter the number of decimal places.
- In Rate to currency rate, ensure that 1 is entered as the conversion rate.
- Click SAVE.
Adding the conversion rate for other currencies
If you use other currencies besides your company currency for financial reporting, you must add the conversion rate and specify the number of decimal places.
- Click Configuration > Data Model > Objects.
- Type Currency in the search field.
- Click the number in the Total records field
- Click the currency.
- You can change the number of decimal places which is set to 2.
- In the Rate to currency rate, enter the conversion rate. Let's say your company currency is US dollar, but your European subsidiary adds contract costs in Euro. You add the Euro to US dollar conversion rate.
- Click SAVE.
Repeat this procedure for all of the other currencies that you want to use.
Result
The company currency that you selected determines which currency is used for financial reporting on dashboards and on pages that show the total value of financial transactions.
For example, let's say you use currencies other than your company currency for recording the budgeted costs for SaaS applications. When you click Software and click the SaaS application, the costs of the SaaS are shown in your company currency.
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