Multiple currencies

  • 7
  • Idea
  • Updated 3 months ago
  • Under Consideration
Our company has three main offices in US, UK, and India.  This means that we incur costs, bill labor, and record expenses in three base currencies, not just one.

We currently have our base currency set to USD.  The implication on our UK practice, for example, is this:
  • Amounts on Project Summary page convert to USD though project is in GBP, Euro, etc.
  • Project expense and rate calculations convert to USD though expenses are incurred and rates are set in GBP, Euro, etc.
  • Expense summaries in MyReplicon convert to USD regardless of their incurred currency or reimbursed currency.
  • Client Summary amounts convert to USD
  • Every amount in the Billing and Payroll tabs converts to USD

It would greatly benefit our company if default currency could be chosen by Program (or Project) and Department.
Photo of Rachel Slaughter

Rachel Slaughter

  • 21 Posts
  • 3 Reply Likes

Posted 3 years ago

  • 7
Photo of Lingaraj Dharwad

Lingaraj Dharwad, Product Champion

  • 1100 Posts
  • 46 Reply Likes
Hi Rachel,

Thank you for using Replicon community,

We are reviewing your idea.

Thanks,
Lingaraj
Photo of Sangeet Saurabh

Sangeet Saurabh

  • 53 Posts
  • 10 Reply Likes
Official Response
Hi Rachel,

Thanks for submitting your feedback. We are planning to add superior multi currency support in future. Will love to chat with you and discuss your requirements in more detail...

Regards,
Sangeet
Photo of Steven Long

Steven Long

  • 4 Posts
  • 3 Reply Likes
Hi,

This is something that I have just come across and for me, it is pivotal to the system.  If I currrently run a report and export to Excel, I have to convert all of the currencies manually from USD, when I've spent the time and set-up the related currency (£) per client, user and project.

Are you able to provide an update on this bug?

Thanks,
Steven
Photo of Lingaraj Dharwad

Lingaraj Dharwad, Product Champion

  • 1100 Posts
  • 46 Reply Likes
Replicon does not consider this as a bug. This is a feature request which is currently under consideration. Once we get further updates this thread will be updated. 
Photo of Moreira, Thiago

Moreira, Thiago

  • 1 Post
  • 1 Reply Like
Hi Lingaraj, I'm facing the same restriction! The problem is that I have 14 offices all over the world running business in 14 different currencies... soon this will become a roadblock. Replicon does have an timeframe to implement this? At least I would like to have the option to generate the report in a given currency. My team and I are available to discuss this further.

Thanks
Photo of Lingaraj Dharwad

Lingaraj Dharwad, Product Champion

  • 1100 Posts
  • 46 Reply Likes
Thanks, we will check to see if an ETA is available. 
Photo of Lingaraj Dharwad

Lingaraj Dharwad, Product Champion

  • 1100 Posts
  • 46 Reply Likes
Hi All,

I got an update from the PM team that this is currently not planned for this years roadmap. We will look into this when next years roadmap planning begins. 

Thanks,
Lingaraj
Photo of Hayen, Robert

Hayen, Robert

  • 2 Posts
  • 0 Reply Likes
Hi all,
this is a major issue for us as well. We have 4 currencies we use, and this leads to a lot of confusion amongst our users. We have just upgraded to Gen3, and almost all of the problems we have had since the upgrade concern currencies. It is a major issue.
We could live with this, if we had greater flexibility in reporting options. However many of the report templates only allow Base Currency, rather than the currency for the project / invoicing / client.
I personally think it would not be hard for Replicon to make additional options available for the reporting templates - after all the data exists, you just can't surface it in the reports.
Thanks,
Robert Hayen
Photo of Aashnee Kamboj

Aashnee Kamboj, Community Moderator

  • 1586 Posts
  • 108 Reply Likes
Hi Robert,

This Idea is under consideration and we will update you in case of any progress

Thanks,
Aashnee
Photo of Rebecka Bjurgard

Rebecka Bjurgard

  • 1 Post
  • 0 Reply Likes
We are having the same issue. We create reports for our invoicing and invoice in multiple currencies. But the total amount is calculated based on the default currency. Would be great if the total could just be billing rate multiplied with actual hours instead of calculating it to another currency. As it is now we need to manually calculate all rows which are not the same as the default currency.