Calculating plan to different currency

This example demonstrates, how can we calulate created plans in different currency than curreny used in our program.

Case summary Case presented below is based on an event, when Croatia is transitioning her currency HRK to new curreny EUR on 1.1.2023. When this happens and your company has plans in old currency (HRK in our case), you would like at some point to be able to compare these plans with your current state (or if you have created plans for the future, you would like to switch them to new currency). Before we start presenting cases, we should describe current work of functionalities. Currency on plan is defined from our currency in administration panel. Each table in planning includes column currency (hidden by default), which is filled with our currency by default. If you want to change this currency, you have to add column currency on the crid and change this value manually.

1. Viewing your plan in new currency

Before you start transitioning your plans to new currency, you first have to define exchange rate. To do so, you need to select appropriate subject (or add a new one), set it as bank and set exchange rate, valid to calculate old currency. In our case, we created new subject TransitionEUR, and set an exchange rate for HRK (date are in the past to show how calculations work).

Once this currency is set up, we can now proceed to plan.

When you open plan on the main page, you will find three fields, associated with currency: Bank, Show in currency, and checkbox Planning in primary currency only. There are additional fields Rate and Monthly FX Rate checkbox, but they are not applicable in this case) To be able to use different currency calculations, you have to deselect the checbox, which will enable the other two comoboxses. There you select currency in which you would like to see your plan and select a bank for exchange rate.

2. Viewing results after currency change

As long as you use default settings, all the calculation are shown in default currencies.

Once you change default currency, all the values will be recalculated according to exchange rate.

Functionality works the same way on all other plans (purchase, finance and payroll).