Currency conversion

[MillicentMM]

If I change the currency in a project from example: from Brittish pounds (£)
to USD($) how does project recalculate the amounts(if some of the amounts
have been populated) in the project? And where does project get the exchange
rate from to do this conversion?

 

[Dale Howard [MVP]]

MillicentMM --

How are you changing the currency?

 

[MillicentMM]

A pop up box when I open a local project when connected to the server, asking
if I would like to convert to the currency as configured for the rest of the
enterprise. This is a question that came up in a coversation last week. I've
always just clicked "OK" when prompted, but I would like to know what would
happen if I have some amounts in a currency field.

 

[Dale Howard [MVP]]

MillicentMM --

Your Project Server has set the symbol for the default currency for your
organization in the Enterprise Global file. When you are connected to
Project Server through Microsoft Project Professional, and open a project in
which the current currency does not match the organization's default
currency, the system prompts you with the dialog. If you click Yes, the
system will simply change the currency symbol for the values in every Cost
field for tasks, resources, and assignments in your project. Please note
that it only changes the SYMBOL for the currency; it does not convert the
values from one currency to another. Hope this helps.

 

[MillicentMM]

Thanks, this answers my question.

MillicentMM --

Your Project Server has set the symbol for the default currency for your
organization in the Enterprise Global file. When you are connected to
Project Server through Microsoft Project Professional, and open a project in
which the current currency does not match the organization's default
currency, the system prompts you with the dialog. If you click Yes, the
system will simply change the currency symbol for the values in every Cost
field for tasks, resources, and assignments in your project. Please note
that it only changes the SYMBOL for the currency; it does not convert the
values from one currency to another. Hope this helps.