Changing Functional/Reference Currency when projects are already in progress

[tahnalos]

Our client has been using several financial products in ServiceNow and has been drawing up cost plans and resource plans for projects they are working on.  However, we have just noticed that these projects were drawn up in USD whereas we need to have them done in AUD.

We have made some changes to the single currency property settings in Servicenow to show AUD going forward, but every single new cost plan that we are looking to create is creating them in USD.  Is there any way to convert all the existing entries to AUD while making sure that future cost plans are done in AUD?

Thanks

[Its_Azar]

Hi there @tahnalos 

changing the functional or reference currency for projects that are already in progress can be tricky, as the system does not automatically revalue existing financial records when you update the currency settings. Cost plans, resource plans, and other financial entries store currency values as they were originally entered, so simply switching the default currency property to AUD will only affect new records going forward. To convert existing USD entries to AUD, you would need to either manually update each record or use a script (e.g., via a background script or fix script

If this helps kindly accept the response

[tahnalos]

"Cost Plans, resource plans, and other financial entries store currency values as they were originally entered".

I was wondering if you could clarify this comment.  We had switched our default currency to AUD, but even with that switch, all our cost plans are coming up as USD.  Are you meaning to say that the project itself has the default currency of USD instead of AUD?  And where is this default currency for the project being stored?