--- sourceDocument: Australia Strategic Portfolio Management sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/it-business-management Release : - australia ft:locale : - en-US ft:publication_title : - Australia Strategic Portfolio Management ft:clusterId : - itbm bundleId : - itbm workflow : - Technology --- # Multicurrency in Project Management # Multicurrency in Project Management {#ariaid-title1} Release version: Australia Updated March 12, 2026 ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 2 minutes to read Summarize ![AI sparkle icon](https://servicenow.com/docs/portal-asset/ai-sparkle-icon) Summarized using AI This content was generated using new OpenAI-powered functionality. Results are provided on an as is basis and are not guaranteed to be accurate or complete. ## Summary of Multicurrency in Project Management The multicurrency feature in Project Management allows you to manage projects in different geographic locations using local currencies. This functionality enables you to view project cost details in a currency different from your functional currency, simplifying financial management across various regions. Show full answer Show less ## Key Features * **Plugin Activation:** Activate the PPM Standard Multicurrency plugin (com.snc.ppmmulticurrency) to enable multicurrency capabilities. This activation automatically activates the PPM Standard plugin (com.snc.financialplanningpmo). * **Project Currency View:** Once activated, you can switch to the Project Currency view, which displays multicurrency fields, allowing management of project financials in multiple currencies. * **Currency Designation:** You can designate a processing Project Currency for each project using the Financials tab. Once a cost or benefit plan is created, the Project Currency field becomes read-only. * **Demand Management:** Specify the project currency while converting demand to a project, maintaining flexibility in managing demand using either your functional currency or the designated project currency. * **Project Workspace:** Monitor project financials in project currency within the Project Workspace, including cost and benefit plans. * **Status Reporting:** Access planned and actual cost statuses of projects in project currency through project status reports. ## Key Outcomes Enabling multicurrency allows ServiceNow customers to efficiently manage project finances across different currencies, ensuring accurate tracking and reporting of costs. This capability is crucial for organizations operating in multiple regions, enhancing financial clarity and operational effectiveness. Use the multicurrency feature to execute a project or part of a project in a different geographic location that has a different local currency. The feature helps you to view the cost details of the project in a currency that is different from your functional currency. The values in the project's cost plans, benefit plans, and corresponding cost fields of the project form are also converted to a currency that you specify as project currency. Therefore, you don't need to convert the project currency to the functional currency of the project when the project is executed at a location that uses a currency different than your functional currency. ## Activation information {#multicurrency-pps__section_bjn_llx_hjb} Activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin to enable the multicurrency features in Project Management. Activating the plugin enables the project currency view in project, cost plans, and benefit plans forms. With the project currency view, you can manage your project financials and cost plans in multiple project currencies. Note: Activating this plugin automatically activates PPM Standard (com.snc.financial_planning_pmo) plugin and therefore you get the option to switch between the default view and the project currency view. ## Project currency view {#multicurrency-pps__section_w22_vbw_jjb} In addition to the default view in the Project form, there is Project Currency view, which you can optionally enable to view the multicurrency fields. You can enable this view from the form context menu. The view appears only when you activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin. Unlike the Default view, the Project Currency view contains multicurrency-related fields. You can designate a currency other than the functional currency as the processing Project Currency for a project. The Financials tab of the Project form has the Project currency field. You can select an active currency from the Currencies \[fx_currency\] table. Note: The Project currency field of a project becomes read-only field and locked down for updating the currency once you create a cost plan, cost plan breakdown, benefit plan, benefit plan breakdown, or an expense line for the project. ## Specify project currency in Demand {#multicurrency-pps__section_dty_qvz_bkb} You can specify the project currency that you want to use for managing a project when you convert a demand to a project. You can continue to manage the demand using your functional currency, project currency, or a local currency. For more information, see [Multicurrency in Demand Management](https://servicenow-prod.fluidtopics.net/642ptrqaZ~FAJYv7QKn5EQ "The multicurrency feature tracks demand financials in the corporate currency, regional currency, or the project currency. Corporate policy typically governs this preference."). ## Projects in Project Workspace {#multicurrency-pps__section_sms_r5z_bkb} Track your projects in project currency in the Project Workspace. Create and monitor the cost plans and benefit plans for a project in project currency. For more information on project workspace, see [Project Workspace](https://servicenow-prod.fluidtopics.net/UoC6r3iaOdIrMPFY6vfZlA "ServiceNow Project Workspace helps project managers to plan and manage projects from a central location."). To view the cost component in project currency at the grid level and at the breakdown level, see [Create and manage cost plans and benefit plans for a project](https://servicenow-prod.fluidtopics.net/wGfkjnGiT4XDdfHkkQkcxg "Use the Financials tab in Project Workspace to capture the costs and benefits of a project."). ## Project status reports {#multicurrency-pps__section_ejk_5wz_bkb} To view the planned and actual cost status of your projects in project currency, open the overview and cost sections of [project status reports](https://servicenow-prod.fluidtopics.net/iVdcJkzyfaHl2QTJuzbY0g "Project status reports provide the most recent, at-a-glance progress of a project displayed in several categories.").