Selecting the Currency for Purchase Order/Actuals Imports

When an organization uses multiple currencies, it is important to decide how Spend will handle currency during purchase order (PO) and actuals imports.

Note

Currencies for imports are usually determined during implementation. If you wish to make changes at a later date, we recommend that you first discuss this with your consultant.

Note

Currencies are set at both the top folder in the Hierarchy (Master Currency) and individually for each investment plan (Budget Currency). The Master Currency is the currency your organization uses to view all reports and roll-ups and is generally the currency in which your head office operates. The Local Currency is the currency the investment plan reflects and marketers input their marketing investments in.

  1. On the Budget tab, click the Master Settings hyperlink in the Edit Settings column.

  2. On the Settings page, navigate to the Currency tab under Template Setup on the left.

  3. In the select Import Actuals/PO Currency section, select either Local currency or Master (top-level folder) currency.

    • Master: In your organization, if POs and actuals are managed by a central head-office then master should be selected. The PO and Actuals imports should reflect the master currency, with all transaction currency calculations being done in the ERP system prior to being imported into Spend. After import, the individual investment plan will reflect the investment plan level currency.

    • Local: If POs and actuals are managed regionally then Local Currency should be selected. With this selection, the PO and actuals imports should reflect the investment plan currency only. The POs and actuals must be converted to the investment plan currency prior to import into Spend. The PO and actuals columns will reflect the investment plan level currency and the values would roll up to the master currency at the folder or sub-folder.

You have defined how to interpret the amounts from the PO and the actual import.