Currency Settings and Options

Description

This reference describes all available options and system behaviors for managing currencies in Easy8. It covers how currencies are set at global and project levels, how they integrate with Budgets, supported exchange rates, and technical details.

Target Audience

Administrator

Currency Management Overview

Currencies in Easy8 can be managed at three levels:

• Global level (Administration) - Defines the default and active currencies available for the whole system.
• Project level (Edit project settings) - Defines the default project currency that overrides the global setting for the project only.
• Project budget page - Allows users to change the displayed currency on the project budget view, for temporary visual adjustments only (does not change the saved currency).

This is the list of currencies managed from Administration >> Currency. Here, you can activate or deactivate currencies, set the default currency, and update exchange rates.

In the currency edit form, you can adjust the name, code, and symbol of the currency. You can also set which projects the currency is applied to and whether it should be used as the system default.

Each project has its own Currency field under Edit project that allows you to override the global setting and select a specific currency for the project budget and statements.

On the project budget page, you can quickly switch the displayed currency using the dropdown menu. This change only affects the display for the current session and does not alter the saved project or system settings.

Budgets and Currencies Integration

The Budgets plugin (incomes, expenses, personal costs, profit...) is integrated with Currency. You can select the required currency directly in Budgets without the need to change settings at the global or project levels. Additionally, the Budgets plugin is integrated with WBS in the Cost Breakdown Structure.

Supported and Custom Exchange Rates

You can work with over 350 currencies. However, synchronization via the European Central Bank (ECB) is limited to 22 currencies, which are synchronized daily:

CZK, EUR, GBP, HUF, JPY, RUB, USD, INR, CNY, PLN, CAD, MXN, KZT, TRY, ZAR, KRW, AUD, AED, CHF, BRL, DKK, MAD

For currencies outside these 22:

• Use manual custom exchange rates.
• Request adding to supported list: https://rates.easysoftware.com/currencies/dashboard
• Use external services like fixer.io.

Technical details

Easy currency is a module responsible for formatting and recalculation of entities which have price abstraction. Recalculation is supported on:

• Budget sheets (internal and external rates are in currency defined on project)
• CRM
• Budgets / cashflow

Currency formatting and recalculation requires system commands and server restart:

bundle exec rake easyproject:currency_update_tables RAILS_ENV=production
bundle exec rake easyproject:currency_recalculate_all RAILS_ENV=production
bundle exec rake easyproject:currency_update_tables_and_recalculate RAILS_ENV=production

You must also set exchange rates and can synchronize them from ECB. There are options to lock exchange rates older than x months and manage display formats.

Internally, currencies work by adding suffixes to database price columns, recalculating them on entity save.

Notes

• Only active currencies in Administration are available at project or budget level.
• Project-specific settings override global settings.
• On-the-fly changes in budget view are for display only.