Multiple currencies Support
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In Projetex 7.0 you can assign individual client currency to each client, expert currency to each freelancer, and still, be able to see ‘the whole picture’ using your base currency. This chapter will help you to understand how currencies are handled in Projetex 7.0. First of all, let us give definitions for the terms used in this chapter: Base currency is the currency in which your company makes all internal accounting records, i.e. project balance, taxes, salary of your corporate experts, corporate expenses and so on. In most cases, it is the currency of your country. Client currency is the currency in which you produce invoices for your client and receive payments from your client. Expert currency is the currency in which you produce purchase orders and make payments to your freelance experts and vendors.
Example: If your company is in Europe, your client is from USA and your freelance expert is from Japan, thus your base currency will be Euro, the client currency will be US Dollar, and expert currency will be Japanese Yen.
In Projetex 7.0 you can easily produce invoices and link them with payments from clients and record them in client currencies, and Projetex will automatically make parallel records in the base currency of your company. You may record issue Pos and make payments to freelance experts in any currency, and Projetex will automatically record your Pos and payments in experts' currencies. These parallel records in your base currency allow conducting all your internal company accounting in your base currency, still keeping the records in other currencies. To make these parallel records possible, you only have to enter currency rates for the currencies of your clients and freelancers. You may also easily change the currency rates for each recorded client job or for all future jobs.
See also: Client and Freelancer Currencies Prices and job accounts in different currencies General views of all Client, Project and Freelancer accounts |
