Global administration settings

Administration > Settings > Provance Global Administration Settings

The Global Administrative Settings form is used to set the currency used in reports and the currencies visible in the management pack.

Currencies and exchange rates

Enter an exchange rate for each currency that needs to be converted to the base currency. In report calculations, currencies are always converted to the base currency, even if you have not entered an exchange rate. The default exchange rate of 1 is used when nothing has been entered. For example, the base currency is USD, the exchange rate for CAD is set at 0.97, and the GBP exchange rate is set at 1.4826. All financial values appearing in reports will be in USD. Any financial values entered as CAD will be multiplied by 0.97. Any financial values entered as GBP will be multiplied by 1.4826.

Visibility of currencies

Use the Visible column to choose the currencies that appear on selection menus and that can be chosen under the Base Currency option. You can limit the currency selections to those currencies that are applicable to your organization. If you have already entered values for any currency that is no longer visible, those values will remain in their old cur­rency.

Base currency

A base currency is used as the currency displayed in all reports. It is useful when multiple currencies have been entered into your financial data. Regard­less of what currencies have been entered, they will be converted to the base currency. For example, if your data uses all CA dollars (CAD), but the Base Currency is set for U.S. dollars (USD), then all CAD figures will be converted to USD in your reports. The conversion will be calculated based on the exchange rate set on the form. Enter in an exchange rate for every currency that you may be using in your data, in order for the reports to show accurate information.

By default, the base currency is U.S. dollars. You may change the base cur­rency at any time.