Complete the following steps to prepare your Costpoint database to run in the currency of your choice:

1. Choose a functional currency.

   All accounting systems designate a currency as the functional currency. The functional currency is the basic currency of the accounting system. You can select any currency in the world as the Costpoint functional currency, and all date/time, number, and currency formatting will be based on your choice. Costpoint's default settings upon installation are for the United States dollar and related formats. If these settings are satisfactory for your organization, you do not need to adjust the settings.

   Before setting up Costpoint, decide which functional currency you will use in Costpoint. The functional currency is not always the local currency. Accounting standards specify how to determine the functional currency. You need to consider the currency of the parent company (if the company is a subsidiary), the currency in which the company conducts most of its business (if not the local currency), and whether the business operates in a highly inflationary economy.

2. Enter formats on the Manage Currencies screen.

   You specify currency formatting information on the Manage Currencies screen. On this screen, use Lookup in the Currency ISO Code field to select the standard ISO code for the currency you plan to use as your functional currency. Then enter the format settings you want to use. The screen has sample displays, which show how data will be displayed and printed based on the format options you choose.

   Note: If the currency you want is not in the Lookup list, call Deltek Customer Care for assistance. The currency you want may be on the list, but not with the standard currency name you expect. Deltek Customer Care can help you locate the currency you want to use.

   For more information on the Currencies screen, see Manage Currencies.

3. Choose a functional currency on the Configure General Ledger Settings screen.

   Use the Functional Currency block on the Configure General Ledger Settings screen to select the functional currency for the database. When you first display this screen, the United States dollar is the default functional currency. To change to the functional currency of your choice, enter the code for the currency in the ISO Code field, or use Lookup to select the currency. If the currency you want is not available in Lookup, then it has not been set up on the Manage Currencies screen. You must set it up there before you can select it here.

   Configure General Ledger SettiFor more information on the G/L Settings screen, settings.

4. Check your Windows Control Panel settings. For reports to print properly, your date, time, number, and currency settings in the regional options in Windows Control Panel must match the settings associated with the Costpoint functional currency. Also make sure the Measurement setting (English or Metric) is the setting you want.
5. Run Costpoint and make sure the settings work properly.

   You can confirm that your Windows Control Panel settings match the Costpoint functional currency settings simply by starting Costpoint. If the settings don't match, you receive a warning before the menu screen appears. Once you log in, display one screen and one report that show dates and currency amounts. If these amounts are formatted correctly on both the screen and the report, your currency information is set up properly.