System currency and local currency

EnergyCAP supports two currency types: the system currency used across all reports and dashboards, and the source currency (also called local currency) in which individual bills are entered.

This is most useful for organizations that receive bills in multiple currencies—for example, a company with facilities in the US and Canada that receives bills in both USD and CAD. Bills can be entered in their local currency and are automatically converted to the system currency for reporting.

To configure the system currency:

1. Go to the Settings menu (Gear icon).
2. Select Data Reporting Settings.
3. For Cost, select your system currency from the drop-down.
4. Save.

System currency

System currency is the currency set in Data Reporting Settings. This currency is used in reports, dashboards, bills, and records.

The following reports support system currency. Additional reports may be added in future releases:

• Report 01
• Report 02
• Report 04
• Report 06
• Report 08
• Report 12
• Report 17
• Report 18
• Report 19
• Report 24
• Report 27

What to update after changing the system currency

When you change the system currency, review and manually update the following:

1. Recalculate Cost Avoidance.
2. Review and update Cost Avoidance special adjustments costs and unit costs.
3. Review and update Cost Avoidance other savings for cost.
4. Generate a new budget. To avoid confusion you may want to delete the old budget.
5. Review and update Rate Schedules.
6. Review and update the bill approval limits for each user.
7. Review and update each bill audit and the amount you have entered for the minimum total cost.
8. Review and update the cost recovery flags on each bill.

Source currency

You can manually change the currency for an individual bill when you are entering or viewing the bill.

Here is an example of how to change the currency when you are manually entering the bill.

You can switch the currency after the bill is saved. The conversion date for the bill is visible in the popover text.

The conversion factor contains six decimals of precision and the result is rounded and stored at two decimals.

Accrual bills

Accruals are generated in the configured system currency. If you change the system currency, existing accrual bills will continue to show in the currency that was active when they were created. Regenerating accruals will apply the new currency.

Bill lists

You can add columns to your meter bill list to see source costs.

Records lists

In the Emissions module, you can view and compare emissions records cost in both the source currency and the system currency.

Conversion factor date

The date used for the conversion of the bill is typically the statement date.

1. Use the statement date of the bill. If the statement date is in the future, try the next step.
2. Use the end date of the bill, if the end date is less than or equal to the bill entry or edit date. If this date is in the future, try the next step.
3. Use the start date of the bill, if it is less than or equal to the bill entry or edit date. If this date is in the future, try the next step.
4. The bill entry or edit date is used for the conversion factor.
   
   If any bill dates are prior to January 1, 1999 the conversion date is January 1, 1999.