Conversions

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Currency Conversions

Currency Conversions is located under Configuration-->Conversions-->Currency Conversions (see figure 7.1).



Figure 7.1. Currency conversions main page


Before users begin tracking expenses, the system administrator should configure actual currency rates if you will be tracking expenses in multiple currencies. Expense reporting is dependent upon the existence of currency rate conversions when multiple currencies are present in a single report. These conversions are used to convert expense amounts from various currencies to a base currency for the purpose of easier expense reporting and tracking.

The system ships with nine default currencies:

AU$ Australian Dollar
CA$ Canadian Dollar
CHF Swiss Franc
EUR Euro
GBP British Pound
JPY Japanese Yen
MXN Mexican Peso
RUB Russian Ruble
US$ U.S. Dollar

Currency Rates
Currency rates are positive numerical values that reflect the exchange rate between the two currencies selected. If the US Dollar is worth 177.55 Japanese Yen, the rate for this currency conversion would be '177.55' where 1 US Dollar is equivalent to 177.55 Japanese Yen.

Effective Start Date
This date determines the point at which a currency conversion becomes effective. Expense entries before this date will use the previous conversion rate.

State/Effective End Date
The state determines whether or not the conversion has a specified end date. For closed conversions, the end date determines the point at which this currency conversion expires. Expense entries after this date will use a later conversion rate. Open conversions, on the other hand, will not expire until they are manually closed. An open conversion will be applied to future expense records that appear in reports unless it is closed and another conversion to cover the period is created.

To create a new currency conversion, click the Create Conversion button in the lower right corner of the main Currency Conversions screen (see figure 7.1). Up to three currency conversion rates may be created at one time (see figure 7.2).



Figure 7.2. Create currency conversion rates

To create a new conversion rate, select the two currencies for conversion and then specify the conversion rate. Enter the effective start date for this currency conversion rate. You may enter the effective start date manually by selecting it from the pop up calendar. This field is set to today's date as the default effective start date. Enter the state/effective end date for this currency conversion rate. You may enter the effective end date manually or by selecting it from the pop up calendar after you have chosen the state to be closed. You may also leave the state or end date open, and this conversion rate will remain in effect until it is manually closed. When finished, click the Save button.

Past Conversion Rates
The top portion of the main Currency Conversions screen provides an interface that allows you to search for historical currency conversion rates (see figure 7.1). These searches are based upon currency pairs and will return the historical conversions between a single currency pair. So for example, if you wanted to view the historical conversion rates between the US dollar and the Japanese yen, then you would select the US dollar and the Japanese yen. To search for previous conversion rates, select the two currencies to search for. When finished, click the Search button. The search results will display a history for the requested conversions.

Each unique combination of two currencies can have only one active rate for any time period. You cannot have two concurrent currency conversion rates for the same currencies.

The Close Rate Link
Located under the Close Rate header, this link expires a particular conversion rate by setting its Effective End Date to the current day.

To modify an existing conversion rate, specify a new conversion rate and click the Save button (see figure 7.1).

To delete a conversion, select the conversions and click the Delete button (see figure 7.1).


Custom Conversions

Custom Conversions is located under Configuration-->Conversions-->Custom Conversions (see figure 7.3). Your Journyx administrator may have renamed Custom Conversions to reflect what your company is tracking in the Custom Entry screen.



Figure 7.3. Custom conversions main page


Before users begin tracking custom entries, a Journyx administrator should configure the custom conversions if you want to convert these custom entries into currency/dollars for reporting in the system. These conversions are used to convert custom entry units into expenses that can be included in custom or expense reports under Reports-->Standard Reports. Each of these conversions consists of a unit of measurement (captured in the default Unit column on custom entry) and a currency. The custom entry screen does allow you to track different types of units on one screen that can then be converted to a single currnecy for consistent reporting.

Your company can create new units for conversion under Management-->Entry Columns-->Units. Please note that your Journyx administrator may have renamed the Units column.


The system ships with the following default currencies:

AU$ Australian Dollar
CA$ Canadian Dollar
CHF Swiss Franc
EUR Euro
GBP British Pound
JPY Japanese Yen
MXN Mexican Peso
RUB Russian Ruble
US$ U.S. Dollar


Custom rates are positive numerical values that reflect the cost per measurement unit in the currency selected. So if your organization remiburses or bills at $50 per day, the rate for that rate conversion would be '50' where the unit of measurement would be 'day' and the currency would be 'US$'.

Effective Start Date
This date determines the point at which the custom conversion becomes effective. Custom entries before this date will use the previous conversion rate.

State/Effective End Date
The state determines whether or not the conversion has a specified end date. For closed conversions, the end date determines the point at which this custom conversion expires. Custom entries after this date will use a later conversion rate. Open conversions, on the other hand, will not expire until they are manually closed. An open conversion will be applied to future custom entries that appear in reports unless it is closed and another conversion to cover the period is created.

To create a new custom conversion, click the Create Conversion button in the lower right corner of the main Custom Conversions screen (see figure 7.3). Up to three custom conversion rates may be created at one time (see figure 7.4).



Figure 7.4. Create custom conversion rates


To create a new conversion rate, select the unit of measurement for the new conversion rate. The available units of measurement appear in the dropdown menu located under the Unit column, unless your Journyx admnistrator has renamed the Unit column. Enter the numerical value for this rate. Remember, this rate will determine the amount of the selected currency that will be charged for each unit of measurement. Select the currency to be used by this new conversion rate. The available currencies appear in the dropdown menu located under the Currency column. Enter the effective start date for this custom conversion rate. You may enter the effective start date manually by selecting it from the pop up calendar. This field is set to today's date as the default effective start date. Enter the state/effective end date for this custom conversion rate. You may enter the effective end date manually or by selecting it from the pop up calendar after you have chosen the state to be closed. You may also leave the state or end date open, and this conversion rate will remain in effect until it is manually closed. When finished, click the Save button.

Past Conversion Rates
The top portion of the main Custom Conversions screen provides an interface that allows you to search for historical custom conversion rates (see figure 7.3). These searches are based upon a unit-currency pair and will return historical conversions for only one particular pair. To search for previous conversion rates, select a unit and currency. When finished, click the Search button. The search results will display a history of the requested conversions.

Each unique combination of unit and currency can have only one active rate at any time, although you can have two concurrent rates for the same unit if one is for US$ and one is for EUR. However, you cannot have two concurrent rates for the same unit if both are for the same currency.

The Close Rate Link
Located under the Close Rate header, this link expires a particular custom conversion rate by setting the effective end date to the current day.

To modify a conversion rate, specify a new value and click the Modify button (see figure 7.3).

To delete a conversion, select the conversions and click the Delete button (see figure 7.3).



Mileage Expense Conversions

Mileage Expense Conversions is located under Configuration-->Conversions-->Mileage Expense Conversions (see figure 7.5).



Figure 7.5. Mileage expense conversions main page


Before users begin tracking mileage, the system administrator should configure the mileage expense conversions to reflect actual mileage rates. Mileage reporting is dependent upon the existence of mileage rate conversions. These conversions are used to convert mileage amounts entered on expense entry screens into expenses that can be included in expense reports by the system reporting engine. Each of these mileage rate conversions consists of a unit of distance measurement (captured in the default Expense Code column on expense entry) and a currency.

You may create Expense Codes for tracking mileage or distance by going to Management-->Entry Columns-->Expense Codes. Please note that your Journyx administrator may have renamed the Expense Codes column. When creating an Expense Code that will be entered as mileage or distance, you must set the Expense Code custom field called Mileage Expense to "Yes" in order to enable the new Expense Code for mileage tracking.


The system ships with the following default currencies:

AU$ Australian Dollar
CA$ Canadian Dollar
CHF Swiss Franc
EUR Euro
GBP British Pound
JPY Japanese Yen
MXN Mexican Peso
RUB Russian Ruble
US$ U.S. Dollar


Mileage rates are positive numerical values that reflect the cost per measurement unit in the currency selected. So if your organization expenses miles at $1.27 per mile, the rate for that rate conversion would be '1.27' where the unit of measurement would be 'mile' and the currency would be 'US$'.

Effective Start Date
This date determines the point at which the mileage conversion becomes effective. Mileage entries before this date will use the previous conversion rate.

State/Effective End Date
The state determines whether or not the conversion has a specified end date. For closed conversions, the end date determines the point at which this mileage conversion expires. Mileage entries after this date will use a later conversion rate. Open conversions, on the other hand, will not expire until they are manually closed. An open conversion will be applied to future mileage records that appear in reports unless it is closed and another conversion to cover the period is created.

To create a new mileage conversion, click the Create Conversion button in the lower right corner of the main Mileage Conversions screen (see figure 7.5). Up to three mileage conversion rates may be created at one time (see figure 7.6).



Figure 7.6. Create mileage conversion rates


To create a new conversion rate, select the Expense Code for the new conversion rate. The codes that are enabled for mileage/distance appear in the dropdown menu located under the Expense Code column. Enter the numerical value for this rate. Remember, this rate will determine the amount of the selected currency that will be charged for each unit of distance traveled. Select the currency to be used by this new conversion rate. The available currencies appear in the dropdown menu located under the Currency column. Enter the effective start date for this mileage conversion rate. You may enter the effective start date manually by selecting it from the pop up calendar. This field is set to today's date as the default effective start date. Enter the state/effective end date for this mileage conversion rate. You may enter the effective end date manually or by selecting it from the pop up calendar after you have chosen the state to be closed. You may also leave the state or end date open, and this conversion rate will remain in effect until it is manually closed. When finished, click the Save button.

Past Conversion Rates
The top portion of the main Mileage Conversions screen provides an interface that allows you to search for historical mileage conversion rates (see figure 7.3). These searches are based upon an expense code-currency pair and will return historical conversions for only one particular pair. To search for previous conversion rates, select an expense code and currency. When finished, click the Search button. The search results will display a history of the requested conversions.

Each unique combination of expense code and currency can have only one active rate at any time, although you can have two concurrent rates for miles if one is for US$ and one is for EUR. However, you cannot have two concurrent rates for miles if both are for the same currency.

The Close Rate Link
Located under the Close Rate header, this link expires a particular mileage conversion rate by setting the effective end date to the current day.

To modify a conversion rate, specify a new value and click the Modify button (see figure 7.5).

To delete a conversion, select the conversions and click the Delete button (see figure 7.5).