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Setting the Contract Currency

The contract currency is the defined currency that describes money amounts in your contract, its change orders and invoices. When you create a contract, the workspace currency is used as the default contract currency. If a contract is created from another document, the initiating document's currency is used. You can accept this, or you can select any other existing defined currency as the contract currency.

The contract currency may be different from the workspace currency for the workspace that contains the contract. You can specify the conversion rate between the contract currency and the workspace currency by editing the defined currency that you choose as the contract currency. For the purposes of the contract and its related documents only, you can also specify a contract currency precision independent of the defined currency.

You can modify the contract currency after you have added contract line items. When the contract currency is changed, the displayed value of the line items remain the same. Instead, the conversion rate to the workspace currency is updated with the new currency's conversion rate.

For example, if you were to change the contract currency from US dollars to Euros, a 10 dollar US line item would become a 10 Euro line item. Proliance then updates the conversion rate for the line item according to the exchange rate between Euros and the workspace currency.

Once you have added change orders and invoices to the contract, you can no longer change the contract currency.

To set the contract currency

1. On the Settings page of the contract, open the Cost Settings section.
2. Next to Contract Currency, click the Magnifying Glass drop-down list..

The Currencies dialog box appears.

3. Select the currency that you wish to use as the contract currency.

The selected currency appears in the list on the right-hand side of the dialog box.

4. Click OK.

Proliance saves your contract currency selection.