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International currencies

International Currencies | Overview

Tracker provides currency conversions for monetary amounts in international matters. Several factors control how the currency for monetary amounts are displayed in Tracker:
  • Office base currency:
     Each office has a base currency, which is specified in the office's profile. This selection determines whether the form for posting invoices includes a field for value added tax (VAT). The office base currency is also the default currency for each user associated with the office.
  • User currency preference:
     Users can specify their individual currency preference so that all monetary amounts, regardless of the original currency in the amounts, are shown in the currency the user prefers.
  • Matter base currency:
     The matter currency specifies the currency in which monetary amounts relating to a matter are saved in Tracker. These monetary amounts include budget estimates and estimates of exposure or recovery, but do not include invoice amounts or unbilled amounts. The client company specifies the matter base currency when creating the matter.
  • Invoice currency and unbilled amounts currency:
     Law firm users can post invoices and unbilled amounts in their native currency.
Monetary amounts on an invoice or other document with a foreign currency are displayed in the user's preferred currency in black. International currency amounts are shown in orange.
On some pages, space is limited and monetary amounts are showin the user's preferred currency only. An icon indicates that the amount displayed was converted from the foreign currency amount.
Tracker obtains its standard foreign exchange rates from a daily service. The exchange rates are based on inter-bank market rates (rates for transactions of U.S. $1 million or more).

This article applies to:

  • Product: Legal Tracker
  • Audiences: Firm