Multicurrency fields in demand-related forms

  • Release version: Yokohama
  • Updated January 30, 2025
  • 4 minutes to read
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    Summary of Multicurrency fields in demand-related forms

    Enabling the Demand Currency view in Demand, Cost Plan, and Cost Plan Breakdown forms allows ServiceNow customers to manage and track financials using multicurrency fields. These fields appear in the Financials section of the forms and help manage demand-related financial data consistently across different currencies.

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    Key Features

    • Demand form: Includes fields for Demand currency (currency for managing the demand, which becomes read-only after creating cost or benefit plans), Project currency (currency used when converting demand to a project), and various financial metrics such as Capital expense, Operating expense, budgets, total planned cost, financial return, net present value, and actual cost—all expressed in the selected demand currency.
    • Demand Task form: Tracks the demand currency and the actual cost incurred on demand tasks, calculated upon approval of time cards using resource rates.
    • Cost Plan and Cost Plan Breakdown forms: Show the demand currency, costs rolled up from breakdowns, and capture currency exchange rates and their effective dates for accurate financial conversions.
    • Benefit Plan and Benefit Plan Breakdown forms: Include demand currency, financial benefits, actual benefits, and currency exchange details to reflect benefit values correctly in the selected demand currency.
    • Expense Line form: Converts entered expense amounts into the demand currency for consistent financial tracking.
    • Demand Budget form: Displays planned capital (Capex) and operating (Opex) expenses and the total budget, all expressed in the selected demand currency.

    Key Outcomes

    By leveraging multicurrency fields, ServiceNow customers can:

    • Manage financials related to demands seamlessly across multiple currencies.
    • Ensure currency consistency from demand creation through project conversion and budget planning.
    • Accurately track costs, benefits, and budgets in the preferred currency, supporting better financial analysis and decision-making.
    • Utilize currency exchange rates and dates for precise conversions in cost and benefit plans.
    • Maintain data integrity by locking demand currency once financial plans are established.

    When you enable the Demand Currency view in a Demand, Cost Plan, and Cost Plan Breakdown forms, you can observe the multicurrency fields in the Financials section of the forms.

    Financials tab of the demand form

    Table 1. Demand form
    Field Description
    Demand currency Currency in which you want to manage and track the demand.
    Note:

    The ability to select a demand currency depends on the currency option you selected in Preferences-Project under Project Administration. For more information, see Select demand currency preference.

    The Demand currency field of a demand becomes read-only once you create a cost plan, cost plan breakdown, benefit plan, or benefit plan breakdown.
    Project currency Currency in which you want to implement the project when this demand is converted to a project.
    Note:

    The Project currency field in the Project form of Project Management is carried over from the demand when it is converted.
    Capital expense in demand currency Capital expenditure (Capex) for the demand.
    Capital budget in demand currency Total capital budget allocated to the demand across all fiscal years.

    The value is rolled up from the capital expenditure (Capex) budget of the demand.
    Operating expense in demand currency Operational expenditure (Opex) for the demand in the selected demand currency.
    Operating budget in demand currency Total operational budget allocated to the demand across all fiscal years in the selected demand currency.

    The value is rolled up from the Opex budget of the demand.
    Total planned cost in demand currency Estimated cost of the demand in demand currency.
    Financial return in demand currency Estimate of the revenue based on the Total planned costs in demand currency and Financial benefit in demand currency fields.
    Financial benefit in demand currency Estimate of revenue if the demand is approved in the selected demand currency.

    This value is rolled up from the benefit breakdown of the demand.
    Net present value in demand currency Present value of future cash based on the given annual interest rate in the selected demand currency.

    It is a measure for comparing money spent today against future expected financial benefits. It helps when evaluating the overall investment performance.
    Actual cost in demand currency Total cost incurred while working on a demand and demand tasks in the selected demand currency.

    Multicurrency fields of the Demand Task form

    Table 2. Demand Task form
    Field Description
    Demand currency Currency that you specified in the Demand currency field of the Demand form.
    Actual cost in demand currency Total cost incurred while working on a demand tasks in the selected demand currency.

    Actual cost comes after the assignee of the demand task creates and submits a time card. When the time card is approved, the resource rate, derived from the rate card, labor rate, or system properties, is used to populate this field.

    Financials section of the Cost Plan form

    Table 3. Cost Plan form
    Field Description
    Demand currency Currency that you specified in the Demand currency field of the Demand form.
    Cost in demand currency Value that is rolled up from the Entered cost field of all cost plan breakdowns.
    Note:
    Any change that you make to the unit cost, quantity, or fiscal period of a cost plan has the amounts recalculated in demand currency. See Cost plan updates and cost recalculation in demand currency.

    Multicurrency fields in the Cost Plan Breakdown form

    Table 4. Cost Plan Breakdown form
    Field Description
    Demand currency Currency that you specified in the Demand currency field of the Demand form.
    Cost in demand currency Breakdown amount in demand currency.
    Demand currency exchange rate Rate in effect for the period corresponding to the cost plan breakdown in the demand currency.
    Demand currency exchange rate date The reference date on which the currency exchange rate is applied for conversion.

    Financials section of the Benefit Plan form

    Table 5. Benefit Plan form
    Field Description
    Demand currency Currency that you specified in the Demand currency field of the Demand form.
    Benefit in demand currency Benefit incurred from demand in demand currency.
    Actual benefit in demand currency Actual benefit value rolled up from the actual benefit in the benefit breakdown.

    Multicurrency fields in the Benefit Plan Breakdowns form

    Table 6. Benefit Plan Breakdowns form
    Field Description
    Demand currency Currency that you specified in the Demand currency field of the Demand form.
    Benefit in demand currency Benefit incurred from demand in demand currency.
    Demand currency exchange rate Rate in effect for the period corresponding to the benefit plan breakdown in demand currency.
    Demand currency exchange rate date The reference date on which the currency exchange rate is applied for conversion.

    Multicurrency fields in the Expense Line form

    Table 7. Expense Line form
    Field Description
    Demand currency Currency that you specified in the Demand currency field of the Demand form.
    Amount in demand currency Expense cost in demand currency. Amount entered in the Amount field is converted to demand currency.

    Multicurrency fields in the Demand Budget form

    Table 8. Demand Budget form
    Field Description
    Capex budget in Demand Currency Planned expense amount allocated for capital expenditure in the selected currency.
    Opex budget in Demand Currency Operating expense amount in the selected currency in the selected currency.
    Total Budget in Demand Currency Sum of Capex and Opex amounts in the selected currency.