Multiple currencies in a project
We’ve had support for different currencies on the project level for a while already. However, some of our customers need to have their costs and incomes in different currencies—or maybe even multiple currencies since the suppliers are in several countries.
It is now possible to have multiple currencies inside one project. This means you can have your project in Euros and approve costs in US dollars. You can also run purchase orders in a currency different from the budget and then approve expenses in the same currency.
You can define the currency and rate at the moment of document approval. But don’t worry; you can also change the currency rate afterward. The currency rate is used to convert the costs into the currency of the budget so that your committed costs and other values are shown correctly. Changing the currency shown in the document detail view is also possible for more transparency.
Multiple approval rounds
We have had approval workflows for RFQs and subcontract progress reports for a while now. We have now added the possibility of doing multiple rounds of approvals. This is useful when your management requires you to have more bids on a tender. The last approval round decision is used to bring out the last decision of the approver. Their decisions for both rounds will be shown when you hover over the initials.
You can create the second (or Nth) approval round just like you did for the first round.
Purchase order changes
We also made additional changes to purchase orders in addition to the multi-currency support.
Closing purchase orders changes committed costs
When you close an unfinished purchase order, the committed costs in the budget are also updated. The approved costs at the time of closing are used instead of the ordered total, leading to a more accurate forecast of the actual costs.
You might have two purchase orders, one of which will not be delivered anymore. In the past, the committed cost amounts would be incorrectly shown.
Receiving the remaining purchase order
Previously, you would have to manually type in the quantities of the items you still had to receive for the purchase order. That is not the case anymore. We added a way to receive all of the remaining purchase orders when you approve a purchase order cost. The quantities will be automatically filled with the “remaining on order” values, and all you need to do is approve it.
Xero integration changes
We made minor adjustments to our Xero integration to create your contacts in Xero if they do not exist yet. Previously, the contacts were created at the time of creation in Planyard. We changed to unify Xero and QuickBooks workflows and keep the two integrations as similar as possible.
This change is irrelevant for most of our users since their workflows are not affected by it.