Overview
For businesses with operations spanning multiple countries, it's possible that different currencies are used across various locations. In Limble, Enterprise customers can configure a different currency for each of your locations.
This article will teach you how to enable different currencies, and how those currencies interact and impact reporting.
Table of Contents
Enabling Multiple Currencies
Only Super Users can enable the feature, configure the account currency, and change location currencies.
To enable the feature, navigate to Settings > Account Settings > Configuration.
Click the toggle next to “Enable Multiple Currencies.”
In the new window, review the impacts to your account when multiple currencies are enabled. Then, click "Next."
Click the checkbox to confirm your choice, then click “Enable Multiple Currencies.”
Configure the Account Currency
Configure the Account Currency
The account currency serves as the default currency for your locations.
Click the dropdown under “Account Currency” and select the desired currency.
Review and confirm your choice in the new window by clicking “Change Currency.”
The selected currency will be the default currency for newly created locations, and existing locations unless a different currency was manually selected.
Change Location Currencies
Change Location Currencies
To update location currencies, navigate to the Manage Locations page by clicking the blue “Manage Locations” text.
Click on the desired location.
Click the dropdown under “Location Currency” and select the desired currency.
Review and confirm your choice in the new window by clicking “Change Currency.”
How Multiple Currencies Interact
You can select different currencies for each location. Within a location, only one currency can be used.
Read the sections below to understand how enabling multiple currencies impact labor categories and average user wage, and the ability to transfer items between locations.
Labor Categories & User Average Wage
Labor Categories & User Average Wage
Labor categories and a user’s average wage are set at the account level, but take on the currency of the location where the user completes work.
For example: Location A uses EUR, and Location B uses USD.
A user’s average wage is set to 15.
If the user logs time at location A, their average wage is 15 EUR.
If the user logs time at location B, their average wage is 15 USD.
A labor rate within a labor category is set to 20.
If the user logs time at location A, their labor rate is 20 EUR.
If the user logs time at location B, their labor rate is 20 USD.
Transferring and Purchasing Items Between Locations
If you have more than one currency in use, some actions may be limited between locations.
The table below lists all of the items and desired actions that require the same currency between locations.
Item(s) | Action |
Assets, Parts | Transferring to a different location |
Parts, POs | Purchasing parts from a different location |
Reporting with Multiple Currencies
If at least one location uses a different currency, you will see new options in reporting to display data in the account or location-based currencies.
When creating new widgets, in the "Displaying the following information" section, you'll see a new "Reporting Currency" dropdown.
By default, widgets will display in the account currency. Click the dropdown to choose from the currencies being used at the account and location level.
Select the desired currency. Then, click "Save."
The widget will now display totals in the selected currency. The conversion rate is based on a daily spot rate, which you can view by hovering over the question mark icon.
(Note: by default, existing widgets will continue to display in the account currency. You can update this by clicking the pencil icon to edit the widget. Then, update the currency as detailed above.)
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