How do I change the Default (Base) Currency in EPPM?
We had an interesting question that came through on our Oracle Primavera support desk last week, one to which the solution looked a little odd.
So how does Primavera P6 calculate currencies, and how can you change the system default, or Base Currency?
Firstly, understanding how P6 utilises the currency exchange facility will help answer the question.
The base currency is the monetary unit used to store cost data for all projects in the database and is controlled by a global administrative setting. The default base currency for P6 EPPM is US dollars ($). The view currency is the monetary unit used to display cost data in P6 EPPM and is controlled by a user preference.
The exchange rate for the base currency is always 1.0. When a user selects a different currency than the base currency to view cost data, the base currency value is multiplied times the current exchange rate for the view currency to calculate the values displayed in cost and price fields.
For example, if the base currency is US Dollars, the view
currency is Pound Sterling, and the exchange rate for the British Pound is $1 =
£0.80, a value of $10 stored in the database is displayed as £8 in cost and
price fields. Similarly, if you enter £8 in a cost or price field, it is stored
in the database as $10. Let’s take a look in P6.
To access the currencies, click the Admin Menu, then Currencies. Here you can see that the US Dollar is set as the Base, and British Pound is set to an exchange rate of 0.8
When we view the projects, I can see that my “Currency Exchange” project has an original budget of $1m
By changing the user preference to Pound Sterling, I can then see the projects shown in British Pounds
To change the Base Currency in P6 Professional, all you must do is tick a different box in the Currencies pop-up. But in EPPM, it is quite different.
Firstly, there is no admin menu, so you cannot access the same Currencies pop up dialog as in a standalone P6 Professional database
Major changes that effect all users will largely be performed through the web interface, within the Administration section, as below
There is no right-click option in here to change what is set as the Base Currency, oddly you have to change it all manually.
You do that by clicking into the currency at the top of the list, and updating it to the ID, Name and Currency symbol that is required.
As a little tip here, if you are intending on using the same terminology, you may need to use an intermittent name, “GBP_” for example, so that changes can be committed to the database, much like with activity IDs when auto renumbering.
Also, whilst technically it is that simple, there may be other considerations you might need to take into account, such as what the user will see.
I will be discussing considerations around currency exchange in a later blog
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