Currency Settings

The Currency section lists all of the currencies that the organization would use when determining loss or gain for incidents and impacts. Using the Currency Conversion Rate Upload section, the user can upload conversion rates for foreign currencies to convert them to the base currency to properly calculate impact loss or gain

Currency rates are dependent upon where the incident occurred and what currency from which the transaction was made.

When recording gain or loss amounts for an impact, the local currency amount is converted from the currency chosen in the impact form to the base currency amount.

Conversion rates are also stored by conversion date, and will determine the base currency according to the impact transaction date specified in the impact form.

Note: Users will not be able to add Impacts unless at least 1 currency exists in the Currency List.