How to change currency in Primavera P6 and How is data stored when using multiple currencies

Sometimes we work in a project which use a different currency other than US dollar.

I will show you how to create new currency and using it for the new project.

Let’s say we have a new project:

How to change currency in Primavera P6 and How is data stored when using multiple currencies-1

This project will use Malaysia Ringgit (MYR). To create new currency, we go to menu Admin -> Currencies.

Click Add and enter information like below:

How to change currency in Primavera P6 and How is data stored when using multiple currencies-2

Now we will change to display currency in MYR.

Go to menu Edit -> User Preferences. Select tab Currency and change to MYR.

How to change currency in Primavera P6 and How is data stored when using multiple currencies-3

We will create a labor resource and define his salary in MYR.

Go to menu Enterprise -> Resources. Create a new resource and enter Price : 10 RM/h

How to change currency in Primavera P6 and How is data stored when using multiple currencies-4

We assign this resource to activity.

How to change currency in Primavera P6 and How is data stored when using multiple currencies-5

Now project is displayed in Malaysia Ringgit

How to change currency in Primavera P6 and How is data stored when using multiple currencies-6

How is data stored?

The data is stored in database in Base Currency which is USD.

So when you define labor price is 10 RM/h, in fact Primavera store 10 / 4.43 = 2.26 USD to database.

The 1000 RM is stored to database in 226 USD

When you need to display in USD, it is possible.

Simply Go to menu Edit -> User Preferences. Select tab Currency and change to USD.

How to change currency in Primavera P6 and How is data stored when using multiple currencies-7

Can we display in another currency?

Yes, you can.

Simply Add a new currency, Exchange Rate and display that currency.

For example I will display in Indian Rupee

How to change currency in Primavera P6 and How is data stored when using multiple currencies-8

A FEW MORE NOTES:

  • You can change Base Currency to another one beside USD. However you have to do it right after install software. Base Currency stored in the Database cannot be changed once live data is in the database.

How to change Base currency?

The base currency is U.S. dollars by default. The exchange rate for the base currency is always 1.

To define a different Base currency:

  1. Go to menu Admin -> Currencies
  2. Select the row that has BASE option ticked
  3. Double-click in the ID, Name, and Currency Symbol fields and enter the base currency’s information.
    For example, if you want the Malaysia Ringgit to be the new base currency, you can type in MYR for the ID, Malaysia Ringgit for the name, and RM for the currency symbol.

How to change currency in Primavera P6 and How is data stored when using multiple currencies-11

Can we enter Price / Unit by month?

Yes we can. Instead of enter Price / Unit by hour, you can enter by month.

For example : 5000 Ringgit per month. You will enter 5000 RM/m

How to change currency in Primavera P6 and How is data stored when using multiple currencies-12

P6 automatically translate the Price / Unit to “by hour” base on configuration in menu Admin -> Admin Preferences -> Time Periods tab

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In this case 1 month equal to 260 hours.

So 5000 RM/m = 19.23 RM/h

P6 will store to database the price of that resource is 19.23 RM/h.

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Author: Khuong Do

Khuong Do is a Project Planner in Civil, Transportation and Oil & Gas Industry. He has worked as a Primavera Consultant Specialist since 2006 . He holds a Civil Engineering degree and a Bachelor of Information Management System. Now he is working in Petronas RAPID project, one of the biggest Refinery and Petrochemical complex, in Pengerang – Malaysia.

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