If your production is purchasing assets in currencies other than USD, lock the exchange rates into Asset Hub before the first asset report is uploaded.
To add currencies to your Project:
- Click on Settings (below Groups) in the left-hand navigation bar
- Click Currency in the Options menu bar.
- On the Currencies Settings page, click the orange plus button to bring up the Add Project Currency pop-up.
Complete the following fields:
Accounting Code: Enter the designation for the currency as it appears in PSL, Global Vista or SmartAccounting. For example, if you are purchasing in GBP, you may be using BP as the Origin Currency designator.
Date: Choose the date in which the currency rate was locked. If you are unsure of when that occurred, you can choose todays date.
ISO Currency Name: Match the international standard 3-character code for the currency.
Country: Select the country in which the majority of the asset purchasing will occur for this currency.
New Rate: Enter in the locked rate as it is in relation to 1 USD. For example; while you can purchase 0.7654 USD with 1 CAD, to Asset Hub you actually purchased 1.2345 CAD with 1 USD. You'll enter in 1.2345* in the New Rate field.
*For the most accurate pricing record information, it is recommended to input the Currency Rate out to at least 4 digits past the decimal.
This is local currency: Check this box if this is either the only currency or the primary currency for the production. This checkbox enables the transactions to be converted to their local cost in a dedicated column. This can only be selected for one currency.
Once your currency is locked, you're ready to import your ledgers. Here are some quick links for your next steps:
Using Smart Accounting?
Using Global Vista?