How is Cost in functional currency calculated in Cost plan?

[Elena Pomana]

Hello,

I have a demand with several Cost plans. 

I have a cost plan with 10 unit cost, quantity is 1, as far as I know "Total planned cost" is calculated (unit cost *quantity).

I don't get how Cost in functional currency is calculated and I have checked over the platform Business rules/Script includes which most of them seem to be on cost plan breakdown(cost_plan_breakdown) table. 

I thought that maybe the field is populated with total planned cost * value from itfm_fx_rate table but it seems I was wrong.

I have noticed that if I change End fiscal period, the value from cost in functional currency changes.

Can someone explain how is cost in functional currency(cost_default_currency) calculated?

Threads I've read:

• https://www.servicenow.com/community/spm-forum/functional-currency-field-in-cost-plan-table/m-p/9784...
• https://www.servicenow.com/community/spm-forum/cost-break-down-calculation/m-p/1017319/page/2

Thank you,

Elena

[Mike_R]

The best I was able to find is this

https://docs.servicenow.com/en-US/bundle/tokyo-it-business-management/page/product/project-managemen...

[Elena Pomana]

Hi,

Thanks for answering. I see that the value from "Unit cost" from Cost plan is updating the "Entered cost" and "Functional cost" from the particular Cost plan breakdown.
Somehow I think that the "Cost in functional currency" from cost plan is calculated based on "Entered cost" or "Functional cost" from Cost plan breakdown value.

[Community Alums]

Hi @Elena Pomana ,

The "Functional Currency" is directly dependent on System Reference Currency. ( https://docs.servicenow.com/bundle/newyork-platform-administration/page/administer/currency/concept/...). The System Reference currency is one time configuration for the instance and not advisable to switch frequently. Th above document will provide more details on Reference Currency.

The "Functional Currency" on the Cost Plan is just information for the user about the current reference currency of the instance. Updating its value is not in scope of PPM application.

FYI, you should look for "Entered Currency" field that indicates the currency of the amount for the current Cost Plan record. The Functional currency amount like "Cost in functional currency" are calculated/converted values.

[Elena Pomana]

Hello

Thanks for the information, but what I don't get is where is the "Cost in functional currency" field calculated/converted? The link isn't working.

Also, is it related somehow to cost plan breakdown?

Thanks,

Elena