Planned cost in Project under Financials Tab is showing in functional currency USD when "Cost Plan" is submitted in EUR. - Support and Troubleshooting

Planned cost in Project under Financials Tab is showing in functional currency USD when "Cost Plan" is submitted in EUR. Issue  Symptoms When the Cost Plan in Project is submitted in EUR currency, the total Planned Cost is calculating in functional currency USD and not considering EUR.

Steps To Reproduce Open any existing Project, in the related list tab, create new "Cost Plans". Name: Test currency in EUR Project/Demand : PRJ0010103 Start fiscal period: FY16: M07-Jul End fiscal period: FY16: M06-Jul Cost Type: Other Capex Currency: EUR Unit Cost: 1000 Quantity: 1 Click on Update or Save. Back in PRJ0010103, under Financials Tab Planned Cost is in USD $1000 Expected Result: Total planned cost should show converted value from EUR to USD.

Actual Result: Total Planned cost is showing in USD $1000

Cause Upon reviewing found the Functional currency is still showing in USD in Cost Plan.

Navigated through "Budget Reference Rates" and no records found

Resolution Budget reference rates are exchange rates between currencies. Each reference rate is valid for a specified time period. The application uses budget reference rates when budget items are in a different currency from the budget plan and forecast.

The application automatically converts budget item currency values to a global system currency value when it calculates the Budget Amount on a Budget Plan, and when it shows values on budget forecasts.

Hence, created New "Budget Reference Rates" from Currency EUR to Currency USD.

Created new Cost Plan with currency EUR.

Result Cost Plan submitted in EUR with 1000 and the result Planned Cost calculated value is 1,199.98 in USD.

More info: Currencies and Budget Reference Rates