Fundings > Donor management > Reporting currency schemes

Use reporting currency schemes (RC schemes) to create settlements for donors in a currency other than the voucher or company currency, or if the donor requires the voucher currency to be converted according to its own specifications. RC schemes, you assign to project financings. Amounts that are in WINPACCS Accounting assigned to a funding are automatically converted into the reporting currency in Controlling using the RC scheme.

In addition to the reporting currency, a RC scheme also contains settings for the conversion mode and the exchange rates of the base currencies.

If you use the function Create a new reporting currency scheme (), you have two options:

▪When you create a new reporting currency scheme changes to it automatically affect all fundings to which the RC scheme is assigned. The advantage of such a RC scheme is that, for example, the exchange rates only have to be updated in one place, and are automatically available in all assigned projects.

▪If you use a preconfigured WINPACCS reporting currency scheme all settings are are already predefined and the exchange rates for all currencies are automatically retrieved from an official source.

NOTE:

You should always manage RC schemes centrally in the Donor management if it is foreseeable that the donor's specifications will apply to several project fundings. If you would like to create individual, project-specific RC schemes, you can do so under > Projects > [Your project] > Project funding in the properties of project funding and will also have the following options:

▪You can create a new reporting currency scheme at project level that is not based on a template. Such an RC scheme is then only available in this project funding.

▪You can create a new RC scheme by copying a reporting currency scheme from the donor management. This copy may be based on a WINPACCS template or may have been newly created in Donor Management. If the original RC scheme is adjusted in donor management, the changes do not affect the copy. Give such RC schemes meaningful names because it is not easy to recognise later whether they are linked to templates from donor management or not.

Master data

Enter the master data of the RC scheme. Depending on what was selected above, not all the fields may be available.

Number of reporting currency scheme	The number is assigned automatically and cannot be changed.
Reporting currency scheme	Enter a unique name for the RC scheme.
Source of currency rates	If you have selected a WINPACCS reporting currency scheme that automatically retrieves current exchange rates, the website which the rates come from, is displayed here.
Reporting currency	Specify the currency in which reports are to be generated for the donor.
Conversion basis	Specify whether the amounts in voucher or company currency are to be converted into the reporting currency. Your donor should specify the conversion basis.

Conversion mode

In this section, you define how the individual outgoing currencies are converted into the reporting currency. If you are using a WINPACCS RC scheme, this section is already filled in and it cannot be edited. When you create a new RC schema, add the required currencies with Add base currency ().

Base currency

The base currency is the currency that is converted into the reporting currency of the donor. Depending on the conversion basis (see above), this is either a voucher currency or the company currency. Typically, the base currencies are the currencies of the journals in the project. Predefined WINPACCS RC schemes are an exception. These automatically contain the rates for all the currencies.

Conversion mode

The conversion mode determines when or how often an exchange rate is updated:

Fixed conversion factor

Once an exchange rate has been set, it applies on a permanent basis.

Period-specific conversion factor

The rate is updated for each period. Select the point in time which should be decisive for selecting the rate:

▪the voucher date;

▪the accounting period, in which the voucher was posted, or;

▪the reporting period in which the voucher is to be settled.

Flexible reporting period

The rate is valid for a freely defined reporting period. The basis is the voucher date.

After you have created the RC scheme and defined the reporting currency, conversion basis, base currency(ies) and conversion mode, you still need to specify the actual exchange rates. Save your entries and switch to the next tab: Exchange rate table.