When a new contact is created as a resourceA contact that works on a project., the resource currency defaults to the corporate currency that was set when multiple currencies was first enabled on your organization. You can edit the currency for a resource to match their local currency. For further information about currencies in FinancialForce PSA, see "Currency".
In FinancialForce PSA you can create an expense reportA mechanism for charging expenses incurred to a project or an assignment. with expenses in multiple currencies. The default expense reimbursement currency is always the resource currency, not the currency on the user record. When you enter expenses, all available currencies which have been set up can be used and conversions take place as applicable. The Billing Amount reflects the project currency, which you cannot change once it is set for a project.
When creating or editing an expense in a currency other than your default currency, you can calculate expenses using different exchange rates. If your organization uses multiple currencies, you can select a different currency on the expense line. For further information, see the scenarios that follow and "Expense Report Page Fields".
You are based in the US, and your default currency is US Dollars. You travel to Europe, incur an expense in Euros, create a new expense report, and enter an expense line for 500 Euros. When you select the currency that the expense was incurred in, the Exchange Rate field appears with the default Euro to US Dollar rate defined in your organization. You can change the displayed rate, when you do so, the new reimbursable rate is automatically calculated and displayed.
You are based in the UK, and your default currency is British Pounds Sterling (GBP), but the corporate currency for the Salesforce org is US Dollars. You travel to Europe as part of a project and incur an expense in Euros. You create a new expense report and enter an expense line for 500 Euros. When you click Edit Details on the expense line, the Exchange Rate field appears with the current Euro to GBP rate defaulted to the ratio of rates defined in your organization. If the rate in the system for GBP is 0.6 (relative to USD) and the rate for Euros is 0.75 (relative to USD), the user-defined exchange rate defaults to the system rate of 0.6/0.75 = 0.8. So in this case, if left unchanged, the reimbursement amount for the expense is 500 EUR * (0.8 GBP / EUR) = 400 GBP.
Now, continuing with the case above, if you change the user-defined exchange rate from 0.8 to 0.75. FinancialForce PSA still looks up the system rate for the reimbursement currency (0.6 GBP/USD), but derives the rate for the incurred currency (EUR/USD) and uses the derived rate to override the system rate for Euros.
Concept Information
Related Tasks
Approving and Rejecting Multiple Expense Reports
Approving and Rejecting Expense Reports
Creating and Submitting an Expense Report
Editing Expenses and Attaching and Combining Receipts
Setting up Expense Limits and Rates
Reference Materials
Manage Expenses to Approve Fields
Combine Expense Attachments Page Fields