Currency management

Manage your business – from a local to a global focus

TimeLog makes it easy to manage international customer projects and price lists, so you can communicate with the customer in their currency.

In a globalised world, you need specialised knowledge and a culturally anchored work force. In a world where knowledge pushes boundaries all the time, you need to adjust your business and be able to match the market, regardless if in your home country or abroad. Therefore, we have made sure that you can manage several price lists for different markets in TimeLog, even if they are in foreign currencies.

Match the price to the target group

Do you have one or more established customers that buy services at a special price? Do you need to sort the employees’ hourly rates depending on country, customer or industry? Then it is easy to create individual price lists for the same service for different target groups. In other words, the same employee can have several hourly rates depending on customers, industry or country, and it does not matter if you do business in your home country, or if you have activities abroad.

Manage multiple legal entities

As a concern with several national or international departments, you do not need to invest in an expensive ERP system to manage several of your legal entities’ financial systems. The Multiple Legal Entities module in TimeLog is a financial and user-friendly alternative. Multiple Legal Entities enables you to link several financial systems to one TimeLog solution and thereby gather the financial reporting in one system.

From pipeline to invoice in one currency

The currency functionality in TimeLog makes it easy to work with foreign customers through the entire value chain. From the first lead is in the pipeline until the first invoice is sent, you can enter the financial potential in the currency you want to. In both the pipeline and analysis reports, you can choose to report in either EUR or the currencies included in the price lists.

It is possible to report in a different currency than the one you use every day. This is especially useful if you have offices in more countries where reporting takes place in another currency (e.g. dollars), even though you normally invoice in Euro.