All currencies are set up in the system by default. These instructions are for very rare cases.

All currencies are set up in the system by default. These instructions are for very rare cases. In Expense, each employee's assigned currency will be used for payroll/expense reimbursements. Also, currency setup determines the currencies available for selection when entering expenses. Currency plays separate roles in Time and Expense. Employees are assigned a default currency in Employee Setup, which affects reporting in Time and Expense. Currencies are associated with WBS levels 1 or 2 to support budgeting functionality. Currency plays separate roles in Time and Expense. Employees are assigned a default currency in Employee Setup, which affects reporting in Time and Expense. Currencies are associated with WBS levels 1 or 2 to support budgeting functionality.
Some common currencies are preloaded during installation. There must be one single default currency established (preset as US Dollars). The default currency will be the base currency for reporting.

In Expense, each employee's assigned currency will be used for payroll/expense reimbursements. Also, currency setup determines the currencies available for selection when entering expenses.

If currency conversions will be required for reporting purposes, or to perform calculations within expense reports, exchange rates may be entered. Administrators can also allow employees to enter their own exchange rate within a certain tolerance.

To create a Currency:

On the left side of the screen, click the arrow to expand the Organization menu.
Click Currency
Click the Add button in the toolbar.
1. Currency* - Enter a unique identifier to identify the currency. The maximum length for this field is 10 characters.
2. Active - When adding a new currency, this box will be checked and be considered active. If the box is unchecked, the currency will be considered inactive.
3. Name* - Enter a name to identify the currency. This field is limited to 100 characters.
4. [Symbol]* - Enter a currency symbol to identify the currency. A currency symbol is used in conjunction with the display of a monetary value to identify the effective currency. The maximum length for this field is 3 characters. If an actual currency symbol is entered in this field per example below, then the symbol will also be displayed throughout the end user interface next to an expense report amount
5. If the Symbol field is populated with the currency ID as in the screenshot below, then the system will not display a currency symbol next to the amount
6. Fraction Digits* - Select one of the options below:
  1. 0 - If you want the amount to show with no decimals. (Example 1)
  2. 2 - If you want the amount to show with 2 decimals points. (Example 1.00)
7. Frequently Used Currency - Select Yes if you think this currency code will be used by most of your users so it will show up on top of the list of currency codes to use. Select No if you don't think this currency code will be used by most of your users.
8. Allow Change - Select Yes if employees are to be allowed to override the system's official exchange rate when entering expenses. Select No if the employees cannot override the system-generated exchange rate.
9. Tolerance % - Enter a tolerance percentage if employees are allowed to change the exchange rate. 0.00 implies tolerance is not setup. Employees will be able to enter any exchange rate.
Click the Save button to save the record.

* Indicates a required field

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