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Project Financials | Non-Labor costs show up inaccurately - Summary vs Non-Summary mode

  • 7 June 2024
  • 2 replies
  • 36 views

Hi all, 

Just wondering if anyone has experienced issues when using multi currencies for projects. 

We have our organization’s currency set up for EUR, but have projects in different currencies. We have noticed that when Non Labor costs are entered into the financial planning non summary view, the aggregated value is incorrect. However, the summary view, shows the correct aggregated value. This is a very annoying issue, since the value rolled into the work item’s fields (the ones showing in the property card) is the non summary view. 

Has anyone else experienced such an issue? 

Thanks!

Hi Maria

When you refer to ‘value rolled into the work item’s fields’ you mean the work items within the project?

Is the currency on your project and work item levels set to be the same on all?

Are you referring to planned costs or actual costs?

I believe this needs to be looked at in more details - you might want to raise this with support.

 

Hi Limori, 

Thanks for your answer. A ticket has been raised for support on this issue. However, let me further explain in case anyone has noticed a similar behaviour.
 

We’ve configured EUROS as our organization’s currency, and we regularly update exchange rates for our most frequently used currencies. 

  1. Project managers enter actual costs monthly in the financial planning system using the “Non-summary mode.” They record expenses in the currency in which they were incurred.

  2. When we switch to “Summary mode,” the system correctly converts actual costs into EUROS using the exchange rate for each month. The aggregated value reflects the sum of current costs for each month.

  3. When we examine the actual cost fields on the property card, we notice a different value. 

 

 

Have you ever noticed such behaviour? Anyone else for the matter? 

Thanks

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