Checklist: Configuring Vision Multicurrency for Navigator Expense Reports

If you are using Vision Multicurrency, your Navigator expense report can support additional currencies for your various expense charges.

When using Vision Multicurrency with Navigator Expense Report, an employee can submit an expense report with line items in different currencies. This is possible because the employee's data is set up in Vision in their home company's functional currency, and Vision can then apply the necessary currency calculations to translate the other currencies on the report. When using Navigator Expense Report, the Currency Code lookup lists all currencies that you can access and allows you to select a specific currency for an expense report line item. For example, if you travel among multiple South American countries during a single business trip, you might submit a single expense report for the trip, with certain line items in Chilean pesos and others in Argentine pesos. Vision will translate these currencies, apply the necessary exchange rates and overrides as needed, and calculate your expense report payment accordingly.

See the Multicurrency topics in the Vision Concepts online help for more information.

When you use Navigator with Vision Multicurrency, there are several configuration options in Vision that impact both the fields that display on the Navigator Expense Reports form and how the amounts in these fields are calculated. Refer to the following table for additional information.

Vision Setting	Impact on Navigator Timesheet	Vision Menu Path
Enabled Currencies, Functional Currency, Triangulation Currency	Use the Currency tab to select the currencies that should be enabled for your company, as well as the functional and triangulation currencies that will be applied. When you use Multicurrency, the Currency Code field displays on the Navigator Expense Report grid. When you insert a new expense item on the Expense Report grid, the Currency Code field automatically prefills with the functional currency code that is specified for your company. If the Currency Code does not match the company's assigned functional currency in Vision, you can: Enter a new Payment Exchange Rate on the Navigator Expense Reports grid. Override the existing currency or exchange rate. When you enter an override for the current rate, the Payment Exchange Rate may display a default rate. Ie the currency or exchange rate for an expense item.	Configuration > General > Company Settings > Currency
Enabled Currencies, Functional Currency, Triangulation Currency	When you insert a new expense item on the Expense Report grid, the Currency Code field populates based on your configuration settings: When you insert a new expense item, this field automatically prefills with the functional currency code that is specified for your company on the Currency tab of General Company Settings Configuration. If no currency code is defined, or if you need to change the currency, use the Quick Find feature, or click in the Currency field to use the Currency Lookup to select a currency for the expense item. The lookup includes both the currency code and currency name for functional currency codes that your company can access. If the selected Category has an associated currency, it will override the default currency code that displays in this field. If you use the Currency Override dialog box to specify a different transaction currency or exchange rate, it will apply to the current expense item and any new expense items that you insert on the grid. You can use the Quick Find feature or Currency lookup to select a different currency for the line item. If there is not a direct or inverse exchange rate for the expense item's currency, Navigator will look for a defined triangulation currency. This is the method of currency exchange in which one currency amount is converted to another through an intermediate currency. As part of selecting currencies for your company, you can select a triangulation currency.
Exchange Override Method	When you submit an expense report, Navigator normally uses the exchange rate that is in effect on the date that you enter for the expense. However, you can use an override to account for circumstances in which the published exchange rate does not apply to an expense entry. This can apply for either the transaction currency or payment currency. The Exchange Override Method options are: None: The Payment Exchange Rate on the Navigator Expense Reports grid defaults to the rate entered as the Daily Exchange Rate in Vision. Date: Select the date that you want to use for the override. Rate : Enter the rate that you want to use in place of the currency exchange rate. The Exchange Override Method impacts the Navigator Expense Reports fields as follows: Currency Code: If the Currency Code does not match the company's functional currency in Vision, you can enter or change the Payment Exchange Rate or override the existing rate. Payment Amount: Navigator will recalculate the Payment Exchange Rate based on the following calculation: Payment Amount divided by Amount.	Configuration > General > Expense Reports > Currency Override Dialog Box
Travel Detail	If you assign Travel detail to the expense report, Navigator checks the Currency Code field to ensure the assigned currency matches the employee's company's functional currency. If they are different, an error message displays and the Currency Code field updates with the employee's company's functional currency. You cannot modify this field.

• If the assigned transaction currency and functional currency codes are different, the Amount field is used to calculate the Payment Amount as follows: Amount multiplied by Payment Exchange Rate equals Payment Amount. The opposite of this calculation also applies if you change the Payment Amount. The Payment Exchange Rate updates to reflect the Payment Amount divided by Amount.

• The Currency Code field on the Expense Report displays the functional currency code that is defined for your company. The available currencies are specified in Vision General Company Settings Configuration and you can select different codes for each expense item as needed. However, if the Currency Code does not match the company's assigned functional currency in Vision, you can:

  • Enter a new Payment Exchange Rate.
  • Override the existing rate. When you enter an override for the current rate,