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How is Effective Date used for Billing Currency

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Article ID: 255631

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Updated On:

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Issue/Introduction

The Effective Date for the Exchange Rates is used to determine the conversion rate on Billing Currency View.

 

 

Environment

Release : All

Resolution

The example used is:

 

Original conversion

EUR/USD  multiply by 2

USD/EUR divide by  2

Then I changed the rates for 11/9/22 to be 

EUR/USD multiply by .75

USD/EUR divide by .75

I made the cost plan be 100 USD for each month

Billing Currency is EUR

This is what showed on the Cost Plan Billing Currency (vs $100 each month for Investment Currency)

Billing currency

OCT 50 EUR

NOV 111 EUR - Month where the Effective Date and Rate changed.

DEC 133 EUR

 

I then got the calculation by day for each rate

8 days for Nov at the divide by 2 rate

22 days at the divide by.75 =

   13.33

+ 97.77 

   111 EUR

 

Here are the calculations:

100/2

50 conversion rate /30 days for Nov
1.666667 day

    x 8 days             
   13.33333

 

100/.75  = 133.3333   100/.75

133.3333 / 30 days = 

4.444444

x 22 days

  97.77778

Nov = 

   13.33

+ 97.77 

   111 EUR