Configure Currencies

This article is about currency configuration in Gatekeeper, including Reporting Currency setup & modification.

Restore Visibility

Estimated Read Time: 4 Minutes

Sections in this article:

• Why are Currencies Important?
• Manage Currencies
  • Select Your Reporting Currency
  • Add Additional Currencies
  • Edit Existing Currencies
• Contract Currency

Why are Currencies Important?

You may have contracts with Vendors in currencies outside of your native coin. Currency Management is the area of the Gatekeeper interface where you can configure your Reporting Currency, all other available contract currencies, and exchange rates that can be manually set.

Once the data is configured to meet your business needs, Gatekeeper offers powerful reporting across all of your contract values in your native currency to make your life easier. 

Manage Currencies

 To access and edit currency information stored in Gatekeeper:

1. From the navigation menu, expand the Settings option then click Configuration.
2. Click Currency.

From here, you can view the current settings and make any necessary changes. Keep in mind that your screen may only have one currency listed under Your Currencies if no other currencies have been added to Gatekeeper.

Select Your Reporting Currency

Under Your Reporting Currency, any currency that you’ve configured can be chosen as the currency for displaying all your reports. To make a change, select the desired currency from the dropdown list and click Save.

Add Additional Currencies

To add new currencies:

1.  Click Add Currency.
2. A new row will then appear at the bottom of your currency list. Search for and select the name of the currency you want to add.
3. Enter the exchange rate by specifying how many units of the selected currency equal one unit of your reporting currency.
4. Click Save.

Edit Existing Currencies

To make changes to your existing currencies:

1. Click the pencil icon on the relevant currency
   1. Update the values then click Save, or,
   2. click the delete icon.

Contract Currency

Each contract will show the contract value in the currency selected for that contract record. This will display the currency code next to the Contract Annual Values to avoid any confusion between the overall reporting currency and the contract's currency being shown.

In contrast, the list view will show the value in the reporting currency rather than the contract's original currency to allow for easy comparison and filtering.