Set budgets and currency

Every project can carry a budget and its own currency. The budget becomes the project’s Budget at Completion on the Finance tab, and the currency is the unit every cost figure on that project is shown in, even when team members have rate cards in other currencies.

Set a project budget

1. Open the project and select Edit Project (or set the budget when you create the project).

2. Enter the amount in the Budget field. The currency selector sits right next to it, so a EUR project keeps its budget in EUR.

3. Save. The Finance tab now uses this figure as Budget at Completion, and the budget appears in the project header for people with budget access.

Budget figures are restricted: project managers and organization admins see them, regular project members do not.

How the project currency works

Each project has one currency, and all of its Finance figures are normalized into it. If a contractor’s rate card is in EUR and the project is in USD, Onplana converts their cost into USD using your organization’s exchange rates. Timesheet entries record the exchange rate at the time they are logged, so historical costs stay stable even when rates move later.

Organization exchange rates

Open Organization Settings, go to the Configuration tab, then the Currency section.

• Default Currency is the base used across budgets, rate cards, and financial reports. Changing it also rebases the exchange rate table.
• Exchange Rates shows the current rate table, expressed as 1 base unit = N target currency. By default the rates refresh daily from the European Central Bank’s published rates (the card is tagged Auto-refreshed daily).
• Select Add currency override to pin a specific rate. Once any override exists, the card is tagged Org overrides, and your pinned rates win over the daily global rates.
• Clear org overrides & revert to global rates drops your overrides and falls back to the daily-refreshed table.

Tip

Pin an override when your finance team closes the books at a fixed monthly rate. Everyone reporting from Onplana then matches the ledger instead of drifting with the daily market rate.

The stale-rates warning

If the rate table has not been updated in more than 14 days (or has never been set), an amber banner appears at the top of the Currency section warning that multi-currency totals may be inaccurate. Rates normally refresh daily without any action from you; if the banner appears, update the rates manually or check with support.

Budgets from Microsoft Project imports

When you import a Microsoft Project file that carries cost data, Onplana rolls the imported task costs up into the project budget automatically and marks the budget as imported. If the file declares a currency, that currency is applied to the newly created project. An import never overwrites a currency you set manually.

FAQs

What happens when I change the default currency? The exchange rate table is rebuilt for the new base, refreshed from the daily rate source where possible. Project budgets keep their own per-project currencies.

Does updating exchange rates rewrite past reports? No. Timesheet costs snapshot the exchange rate when the hours are logged, so historical figures stay put. Forward-looking figures (like planned cost) use the current rates.

Who can change currency settings? Owners, admins, and portfolio managers can edit the Currency section. Project budgets follow each project’s own edit permissions.