Budgets and currencies
Record a budget in the funder’s currency and still see a meaningful total across a programme.
A budget belongs to a project. It has an amount and a currency, and the currency is the funder’s, not necessarily your own.
Two currencies, not one
Your workspace has a reporting currency, set once in Settings under Regional. Each project then has its own budget currency, chosen on the project form from a list of the currencies most often used in this sector. The two are separate on purpose: a grant in euros stays a grant in euros however you report.
The exchange rate
When you pick a budget currency that differs from your reporting currency, a further box appears asking for the rate between them. You enter it yourself: CommonLynk never fetches a rate for you, so the figure in your reports is always one your finance team chose and can defend.
The box explains what to type with a worked example. Leave it blank and the budget is simply shown in the funder’s currency and nothing is converted.
On the project page a budget with a rate is shown twice, first in the funder’s currency and then, after an approximation sign, in yours.
Programme totals
A programme adds its projects up into your reporting currency. Projects already in that currency are added as they are, and projects in another currency are converted using the rate you entered.