Converting multiple foreign currencies

User, whose default currency is Canadian Dollar (CAD), has clients that pay in multiple foreign currencies, say US Dollars (USD) and Euro (EUR). The problem occurs when clients that work with USD need to be billed an expense in EUR. The expenses are not properly calculated.

CORE can't calculate rates for currencies outside of the project's set currency. So, if your project currency is set to CAD, CORE converts using CAD. As a workaround, you can create a project phase and set the currency to one of the foreign currencies, say EUR, and update the multiplier in Currency Screen. With this, if you enter an expense in EUR for a USD client, the Charge Amount column in Expense Entries shows the value converted to your home currency (CAD). However, when you create an invoice, the rate is converted again from CAD to the desired USD. Unfortunately, this conversion can't be hardcoded into a custom template; however, you can reach out to the Customization Team (customreports@bqe.com) to display the appropriate currency symbols and acronyms.  

 

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