Create Change Events with Multi-Currency Line Items

When managing contracts in multiple currencies, you can enter change event cost and revenue values directly in the contract currency. Procore automatically calculates and displays the equivalent amounts in the project’s base currency using the contract’s defined exchange rate.

• Exchange rates are applied based on the exchange rate configured directly on the selected contract.

• Line items display in the project currency on the change event, while automated conversions populating back to the contract currency occur when line items are added to a change order.

• When a contract is selected on a line item, the currency selection automatically defaults to the associated contract currency.

• 'Standard' or 'Admin' level permissions on the project's Change Events tool.

• Multi-currency features must be enabled for your company and project account, with foreign contracts already assigned their respective currencies and exchange rates.

• You must have one or more contracts set up in different currencies on the project.

1. Navigate to the Change Events Tool.

2. Log in to Procore and select your project.

3. Open the Change Events tool from the Project Tools menu.

4. Click the Create button in the top right corner.

5. Complete General Event Details, Fill out the required header information for the change event:

   1. Number / Title: Enter a descriptive title and adjust the sequential reference number if needed.

   2. Status: Select the initial status For example, Open or Pending.

   3. Scope & Reason: Assign the appropriate scope (In Scope, Out of Scope, TBD) and the reason for the change.

   4. Description: Add any notes explaining the background or necessity of the change.

6. Scroll down to the Line Items section. Click Add Line.

7. Select the appropriate Cost Code and Budget Code.

8. Select the Vendor and the specific Contract (Commitment or Subcontract) associated with the expense.

   Note: Procore detects the currency tied to this selected contract.

9. Enter the cost figures such as Quantity, Unit Cost, or Cost ROM directly in the Contract Currency.

10. Procore automatically applies the exchange rate defined in that contract and displays the converted amounts in the Project Base Currency.

11. Verify that the converted base currency totals match your budget expectations.

12. Attach any relevant backup documentation or foreign exchange quotes.

13. Click Save to create the change event record.