Choose from a wide range of international currencies and display their symbols for more accurate budgeting. Customize currency settings for different phases and easily convert between currencies within your budget.
How to Set Your Preferred Currency:
Access Phase Settings: Within your budget, navigate to the phase total column (e.g., Estimate). Click on the column header's dropdown icon.
Choose Currency: In the currency dropdown, you’ll find a list of international currencies.
Select Currency: Pick your preferred currency. Its symbol will automatically update in your budget for that phase.
Save Settings: Remember to save any changes to your phase settings.
How to Use Currency Conversion:
Access Currency Conversion: In the same phase settings where you select your currency, you'll now find an option for currency conversion.
Set Exchange Rates: Enter the exchange rate manually based on the latest conversion rates. You can update this as needed to reflect current rates.
Apply Conversion: Once set, Saturation will automatically convert all budget amounts in this phase to the selected currency at the specified rate.
Review & Adjust: You can view both the original and converted amounts for accuracy and make adjustments as market rates fluctuate.
Currency Settings for Actuals:
Actuals do not have independent currency settings. When you add entries to your Actuals Log, they will always use the currency setting from your first budget phase (typically the Estimate phase).
If you need to track expenses in multiple currencies:
Convert expenses to your base currency before entering them as actuals
Use an external currency converter or your bank's conversion rates
Add a note in the actual entry indicating the original currency and amount for your records
Example: If your budget uses USD but you paid a vendor in GBP, convert the GBP amount to USD before adding it to your actuals. You can include the original GBP amount in the notes field for reference.
Things to Note:
Per Phase Customization: Currency can be set differently for each phase, offering you flexibility if you have budget components in different currencies.
Automatic Symbol Display: Once set, the selected currency symbol will appear in all relevant places within the phase, such as beside amounts.
International Options: Saturation supports most major international currencies, ensuring you have the options you need for international projects.
FAQs
Q: Can I have multiple currencies in a single budget?
A: Yes, Saturation allows different currencies for each phase within a budget, including the ability to convert between them.
Q: Does Saturation provide real-time conversion rates?
A: Saturation enables manual entry of conversion rates, which can be updated regularly to reflect current market values.
Q: Can I track actuals in different currencies like I can with phases?
A: No, actuals use the currency from your first budget phase and cannot be set independently. You'll need to convert foreign currency expenses to your base currency before entering them as actuals.