Setting your account’s default currency
ScopeStack gives you the ability to change the default currency in your account and to manage Projects in different currencies from your account default.
You can set your account’s default currency by navigating to Settings > Financial > Currencies.
On this screen: A table listing all currencies configured in your account. Columns include Currency (the currency name), Format (the display format, such as “Dollars” or “Pounds”), Conversion Rate (a numeric value), and Default? (a checkmark icon appears in this column for whichever currency is currently set as the account default). Each row is clickable to open the currency edit form. A delete button appears on rows that are not the default currency. At the bottom of the table, a green + Add Currency button adds a new currency.
Here, you’ll see a list of the currencies active in your account. The default currency for ScopeStack is USD.
The editable attributes of currency are:
- Currency Name: This is the name of the currency inside the platform
- Format: This updates the styling of the currency.
- Conversion Rate: This is the rate to convert between the account default currency and additional currencies. For the account default, this attribute is uneditable and is always a value of one. When you define other currencies, this is where you can update the conversion rate between the account default and that currency.
- Default: This is where you can designate the currency you’re working with as your account’s default currency.
To change the attributes of your default currency, click the currency.
On this screen: A currency edit form inside a card titled “Currency.” Four fields are displayed in a row: Name (text field), Format (a dropdown selector for currency type, e.g., Dollars, Pounds, Euros, Yen), Conversion Rate (a numeric field; read-only when the Default checkbox is checked, showing a value of 1), and Default (a checkbox; helper text reads “When checked, new projects will initially be assigned this payment term”). A helper note below Conversion Rate reads “1.00 of the default currency is equal to ____ of this currency.” A Submit button and a Back button appear at the bottom.
Once you’re ready, click Submit to save changes.
Adding Additional Currencies
To add an additional currency option to your account, click + Add Currency.
Here, you can enter the information to add a new currency.
- If you need a currency format that’s not yet available, please send us a message and we will work to assist you!
- When you define a currency’s Conversion Rate, please note that the logic is: “1.00 of the default currency is equal to ____ of this currency.”
So for example, at the time of this writing, to convert from USD to GBP:
For example, searching Google for “USD to GBP” shows the current exchange rate (e.g., 1 USD = 0.74 GBP at the time of writing).
So for me to add GBP to my account, I would enter a Format of Pounds and a Conversion Rate of 0.74.
On this screen: The new currency form with example values filled in. The Name field contains “British Pound,” the Format dropdown shows “Pounds” selected, the Conversion Rate field shows “0.74,” and the Default checkbox is unchecked. The Submit button is active at the bottom.
Now, when I look at my account’s list of currencies, I see the following:
On this screen: The currencies list table now shows two rows. The first row shows the original default currency (e.g., “US Dollar,” Dollars format, conversion rate 1.00, with a checkmark in the Default? column). The second row shows the newly added currency (e.g., “British Pound,” Pounds format, conversion rate 0.74, no checkmark in Default?). A delete button appears on the non-default row.
Currencies in Projects
Projects are associated with specific currencies via Rate Tables. Learn more about Rate tables here.
When working within a project, all monetary values will be shown in the format of the project currency as dictated by the Rate Table.
Setting a user Preferred Currency
If a user would like to view the account Dashboard and Projects list in a different currency from the account default, they can navigate to their Profile.
On this screen: The user Profile / My Account page. A left-side navigation menu lists sections including Personal Info, Account Info, Password, and others. The Personal Info tab is active, showing a card with fields for First & Last Name, Email, Phone, and Start Page. A Preferred Currency dropdown appears in this section when multiple currencies are configured on the account, allowing the user to select which currency to use when viewing the Dashboard and Projects list.
Here, they can change their user account Profile to show values in the currency of their choice.
On this screen: The Preferred Currency dropdown within the user profile form, with an available currency option selected (e.g., “British Pound”). A Save button is shown at the bottom of the form.
Changing your Account’s Default Currency
To change your account’s default currency, please select the currency you want to be the default from your account’s list of currencies. Check the default Checkbox in the currency and click Submit.
Changing your account default will update the Dashboard and other account statistics to be displayed in the new default currency. Note that after making this change, you may need to update the following:
- You will need to update the conversion rate between the other currencies in your account and your account’s new default currency.
- Any re-usable Services with Service Price and Service Cost Rates defined and Products in your account in Settings will need to have their rates updated to reflect the value of the service or product in the new default currency
- Projects will remain attached to the rate tables they were attached to before, and all service price, service cost, product price, and product cost information will remain unchanged in the Project.