This feature is part of an early access release and isn’t enabled by default. Access is available on request only.
Manage your team’s currency settings
The Account Owner and Admins can manage your team's currency settings in Company settings > Admin > Currencies.
Plan availability
The number of currencies you can set up for your team depends on your Float plan:
Teams on the Starter plan can only set a single home currency.
Teams on the Pro plan can set up up to five project currencies.
Teams on the Enterprise plan can add unlimited project currencies.
Home currency
Setting up the home currency
Your team’s home currency is defined in Company settings > Admin > Currencies. This is the default currency used across all projects. There can only be one home currency per team.
Changing the home currency
You can only update the home currency if no project currencies are currently set. If you are using project currencies, you'll need to remove them all before changing the home currency to avoid conflicts in exchange rate calculations.
Project currencies
Project-level currencies let you set budgets and bill rates in a client’s local currency while keeping your team’s home currency unchanged. Project currencies and their exchange rates can be set in Company settings > Admin > Currencies.
Adding a project currency
To add a project currency:
1. Go to Company settings > Admin > Currencies > Project currencies.
2. Click Add.
3. Select the currency from the list.
4. Set the exchange rate.
5. Click Save to confirm.
📝Note: If you're on the Pro plan and have reached the five-currency limit, delete an existing currency or upgrade to Enterprise to add more.
Removing project currency
To remove a currency:
1. Hover over the currency name
2. Click the trash bin icon
3. Confirm deletion
📝Note: You cannot delete a currency that is currently in use.
Once deleted, your team will not be able to select this currency for any future projects.
Exchange rate
The exchange rate (FX rate) is used as the reference for calculating project budgets, fees, costs, and margins when a project uses a currency different from your home currency.
Setting the exchange rate for a project currency
Exchange rates are set centrally in Company settings > Admin > Currencies when adding currencies.
💡 Here's a tip: Consult exchange rates with approved individuals, such as your Finance team, to ensure consistency and alignment with your organization’s financial approach.
When a currency is added to a project, the exchange rate set in Company settings > Admin > Currencies > Project currencies > Exchange rate is applied and is locked in for the duration of that project.
Editing the exchange rate for a project currency
Only Account Owners and Admins can update the exchange rates. To edit the centrally set exchange rate:
1. Hover over the currency name in Company settings > Admin > Currencies > Project currencies > Exchange rate
2. Click the pencil icon
3. Enter the new exchange rate
4. Click Save to confirm
Changes to the exchange rate apply to new projects only. They do not affect existing projects. Past and ongoing projects retain the previously set exchange rate.
Editing the exchange rate for a specific project
Only Account Owners and Admins can edit the exchange rate for an existing project:
1. Open the project side panel to access project settings
2. Navigate to the Budget tab
3. Update the exchange rate
4. Manually recalculate the budget value and the bill rates.
The Managers with ‘manage projects’ permission can edit this project setting does not impact the ability to edit the project-level exchange rate. Managers with the 'manage projects' permission cannot update the exchange rate, even if they can edit other elements of the project.
Applying project-level currencies
Project-level currencies can only be applied to Time & materials and Fixed fee budget types. In the Budget section of the project's settings, you can choose one of the currencies your team has set up. Next, you can either apply the currency-based rate card or manually recalculate the budget and bill rates.
Learn more about Project currencies here.