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.
In addition to the reporting currency, a RC scheme also contains settings for the conversion mode and the exchange rates of the base currencies. It enables the automatic conversion of amounts into the reporting currency in Project controlling.
RC schemes can be created both in the Project funding functional group, as well as centrally for a donor in the Donor management functional area. If your projects are organised in programmes, an RC scheme can also be created for a programme funding and applies to all assigned project fundings. When you assign an RC scheme to a funding, you have the following options:
▪You can use a centrally created reporting currency scheme of a donor (a preconfigured WINPACCS RC scheme, or one you have created yourself). If this RC scheme is altered in the Donor management functional area, the changes will also affect this financing. The advantage of such an RC scheme is that for example the exchange rates only have to be updated in one place, and are automatically available in all assigned fundings.
▪You can create a new reporting currency scheme which is not based on a template and can be designed from scratch.
▪You can create a new RC scheme by copying a donor’s reporting currency scheme. You can customise this copy as you wish. The copy is not linked to the template in the Donor management functional area. If the template is adjusted, the changes do not affect this funding.
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. |
RC scheme type |
If you have selected Use reporting currency scheme of a donor, the Donor reporting currency scheme is displayed here. If the project funding is assigned to a programme funding which has an RC scheme, Programme reporting currency scheme is displayed here. If you have created your own RC scheme or have copied an existing RC scheme, Customised reporting currency scheme is displayed here. |
Donor |
If you have selected Use reporting currency scheme of a donor, the donor is displayed here. |
Source of currency rates |
If you have selected Use reporting currency scheme of a donor and this is a WINPACCS RC 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. |
In this section, you define how the individual outgoing currencies are converted into the reporting currency. If you are using a RC scheme of a donor, this section is already filled in and it cannot be edited. When you create a customised RC scheme, you can edit the entries or add more currencies. Click on an existing entry to edit it or click on Add base currency (
) to create a new one.
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. RC schemes created centrally in the Donor management are an exception. These automatically contain the rates for all the currencies. |
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Conversion mode |
The conversion mode determines when or how often an exchange rate is updated:
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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.
Exchange rate table
Enter the exchange rates in this tab. If you are using the reporting currency scheme of a donor or have opened a project funding with the RC scheme type Programme reporting currency scheme , the exchange rates are already predefined and cannot be edited.
This table shows the exchange rates sorted by conversion basis (company currency or voucher currency) and by period. Double-click on an exchange rate in the table to open and edit it. Click on Create new rate () to add an exchange rate. Delete a rate with the Delete (
) button at the end of the line. Use the table settings to change the display of the table.
Conversion mode |
The conversion mode determines when or how often an exchange rate is updated: |
Voucher currency |
Displays the ISO code of the currency which the exchange rate was entered in. |
Displays the conversion rate of the currency to the reporting currency. |
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Displays the exchange rate of the reporting currency to the currency. |
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Period |
Displays the period for which the rate is valid, if the conversion mode is based on a period. |
from |
Displays the starting date of a flexible reporting period. |
to |
Displays the end date of a flexible reporting period. |
Enter rates
When you click on Create new rate (), a page opens where you can enter the required data.
Select one of the previously created base currencies for which you would like to enter an exchange rate. Enter an exchange rate. The corresponding opposite rate is calculated automatically. Depending on the conversion mode, you still have to select a period or specify the starting and end date for a flexible reporting period. This is omitted in the case of fixed exchange rates. Save your entries.