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Matrix42 Self-Service Help Center

Managing Currencies

Overview

This section explains how to set the system currency, activate and deactivate currencies, import exchange rates, and change the currency for individual configuration items. You can convert the reports to any active currency. For conversion, the system automatically uses the last exchange rate prior to the respective set date.

You can enter monetary values in different currencies and convert currencies for reporting purposes. If you want to use these features, you need to consider the following:

  • If you import monetary values from other data sources into the system, you should make sure that you explicitly set the currency of the data. Otherwise, the system might link your data to the wrong currency.
  • The system contains more than 160 predefined currencies but does not contain currency exchange rates. To convert your entered monetary values to another currency, you should make sure that the corresponding exchange rates are made available for the system.

Currencies are managed in Master Data application → Means of Payment:
currency_master_data.png

  • Currencies page allows managing currencies of the system and managing currency exchange rates manually or run an import definition.
  • Currency Exchange Rates page lists all available in the system currency exchange rates.

Setting the System Currency

Monetary values that are shown in the user interface and in reports are controlled by the system currency (euro by default).

To set the system currency and the additional conversion fee that should be used in the Master Data Settings. Specify the Default Currency and Currency Conversion Surcharge (%).

Activating and Deactivating Currencies

When entering monetary values for services, you can use values that deviate from the system currency and select another currency instead. For this purpose, Matrix42 Workspace Management comes with more than 100 currencies to choose from, although you usually need only a few of them.

To simplify the process of currency selection, you can activate and deactivate this function. In each configuration item, only the active currencies are available. You can change these settings at any time:

  1. Open the Master Data application.
  2. In the navigation area, click Means of Payment → Currencies.
  3. In the selection list, double-click a currency. A properties dialog opens.
  4. Select or deselect the Active option.
  5. On the toolbar, click Save and Close.

You cannot activate a currency if the exchange rates to other active currencies are missing. You cannot delete active currencies and exchange rates that were defined for these currencies.

Importing Currency Exchange Rates

If you work with several currencies, you can switch between the currencies that are used in different reports. Both the reports and the object details show the entered monetary values that are converted to your selected target currency. To ensure that the correct value is shown, you require the corresponding exchange rate. You can either add exchange rates manually on the Currency Exchange Rates dialog page of the currency's properties dialog or deliver exchange rates for all active currencies by using the import wizard.

To keep the target rate up to date, we recommend that you automate the import process. To do this, create a new import sequence. Detailed information can be found in the Administration manual → Creating Import Definitions.

Import Definition settings

To configure the import:

  1. Open Master Data application.
  2. In the navigation area, click Means of Payment → Currencies.
  3. In the actions area, click Import Currency Exchange Rates to open the import wizard.
  4. On the toolbar, click Data Source Definition.
  5. Click Download Template file. 
  6. Fill out the template file as described below and upload it to the edited import definition.
  7. Follow the instructions.

For a detailed description of the import procedure, see the Importing Data section of the Matrix42 Workspace Management user manual.

Explanation of the Import Template

Field Name

Description

Data type and Maximum Character Length

Date

 

Required: date of conversion rate. The first part of the key.

Date

Base Currency

Required: source currency. The second part of the key.

Alphanumeric, 3 characters

Target Currency

Required: target currency. The third part of the key.

Alphanumeric, 3 characters

Buy

Required: the conversion rate for buying the target currency (conversion from source currency to target currency).

Numeric, max. 4 decimal places

Sell

Required: the conversion rate for selling the target currency (conversion of target currency to source currency).

Numeric, max. 4 decimal places

Currency Exchange Rates Import Example

The given example is a filled out template imported for the English (United States) [es_US] culture context of the data:

 

Successfully completed Currency Exchange Rate Import results in the following records in the Means of Payment section:

 

Changing the Currency

When entering monetary values, you can define the currency for each value. The definition is then valid for all input fields for the monetary values of the object. The predefined currency for input is the system currency, which is set in the global configuration. If other currencies are required, users can define their own default currencies.

Example: Your system currency is euro and the service price is defined in system currency. However, your preferred currency is US dollars and you want to see all calculations for services in the Matrix42 Self Service Portal in US dollars. Therefore, you need to change the currency to USD:

  1. In any application, open Profile from the menu toolbar.
  2. In the Preferred Currency field, change the currency from EUR to USD.
  3. Click Save or Done to apply changes.

person_profile_preferred_currency.png

As a result, all payment details in the Matrix42 Self Service Portal will be displayed in US dollars.

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