Published: 1 June 2026
Audience
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Admin
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Controller
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Project Manager
Objective
This article explains how to create a multicurrency project in PSOhub — a project that uses a currency different from your organization's base currency. Follow these steps when working with clients who require quotes, contracts, time tracking, expenses, and invoices in a specific foreign currency.
Prerequisites
You have Admin, Controller, or Project Manager access in PSOhub. The required currency has been configured in your organization's Currency settings. A contract template exists for the project you are creating.Steps
- Begin creating a new project from the project overview.
- In the Currency field, select the currency you want to use for this project.
📌 Note: Only currencies that have been configured in your Currency settings will appear in this list. If your required currency is missing, ask your Admin to add it before continuing.
3. Complete the remaining fields on the project creation screen and click Next to proceed to Setup Contract.
4. In the Contract template dropdown, select the appropriate template.
5. If the selected template includes a plan template or budget template, choose whether to add them to the project.
6. Click Next to proceed to the Add Team step.
⚠️ Important: For multicurrency projects, you cannot select team members during project creation. You must add team members and their roles manually after the project is created. This is because billing rates need to be set in the project currency, not the base currency.
Result
Your new project is created with the selected currency applied to the Currency, Deal amount, Total project value, and contract line fields.
If your contract template included predefined values, those values are brought across as absolute numbers in the project currency. Review each contract line and update the amounts to match the agreed commercial terms before work begins.
Once the contract is finalized, your team can begin booking time and expenses. All entries are recorded against the project currency.
Troubleshooting
I can't find the currency I need in the Currency field.
The currency may not be configured in your organization's settings. Ask your Admin to add it via Settings > Financial Configuration > Currencies.
I accidentally created the project in the wrong currency.
Currency cannot be changed after a project is created. Archive the incorrect project and create a new one with the correct currency selected.
My team members are not visible in the Add Team step.
This is expected behavior for multicurrency projects. Add your team members manually from within the project after it has been created, and set their billing rates in the project currency.
Frequently Asked Questions
Can I use different currencies on different contract lines within the same project?
No. All contract lines in a project use the currency selected at the time of project creation.
Will PSOhub automatically convert amounts to my base currency for reporting?
Yes. PSOhub uses the exchange rate configured in your Currency settings to convert project values to your base currency for reporting and financial overview purposes.
Can I change the exchange rate after the project is created?
Exchange rates are set at the organization level in Settings > Financial Configuration > Currencies. Changes to the exchange rate affect how values are displayed in base currency but do not change the amounts recorded in the project currency.
Next Steps
✅ Add your team to the project
After creating the project, assign team members and set their billing rates in the project currency. Add team members to a project in PSOhub
✅ Set up your contract lines
Update the contract line amounts to reflect the agreed commercial terms for your client.
Manage contract lines in PSOhub
✅ Book time and expenses
Once your project and team are set up, begin tracking time and expenses against the project.
Book time in PSOhub