Budgeting
You can add the currencies a production spends in, set their exchange rates and switch the currency the budget is shown in, without changing what any account is priced in.
Each account is priced in its own currency: a German crew member in euros, for example, and a London stage in pounds. KOSMA shows the budget's totals in the reporting currency. Every exchange rate is set against the default currency, which is also the reporting currency until you choose another. You need an open budget.
In the toolbar, click the currency list, which shows the reporting currency, for example  **EUR**. Choose **Settings**. KOSMA opens **Currencies**. You can also open it through **Edit** in the currency list of a **Price/Unit** cell.
Click  **Currency**. KOSMA opens **Select Currency**, which lists every currency the budget does not have yet. Type the code or the name in the search box, click the currency and click **Ok**. KOSMA adds it with an exchange rate of 1. You cannot change the **ISO Code**, only the **Name**.
To make another currency the default, click the radio button  in its row in the **Default** column. KOSMA sets its rate to 1 and recalculates every other rate against it. For example, with EUR as the default and USD at 1.08696, making USD the default sets USD to 1 and EUR to about 0.92. The converted totals in the budget stay the same. A markup in the old default currency moves to the new one. A markup in any other currency keeps that currency. You cannot edit the rate of the default currency.
In the row of the currency, click the **Exchange Rate** cell and type the rate. The column's tooltip says which way round:
Units of this currency per 1 unit of the default currency. Editable for non-default currencies.
If you type the rate the wrong way round, every converted total in the budget is wrong. KOSMA does not warn you.
For example, if EUR is the default currency and 1 euro is worth 1.08696 US dollars, type 1.08696 for USD. KOSMA accepts a number above 0 with a point or a comma as the decimal separator and up to five decimals, and shows the rate with the decimal separator of your language. If you type more than five decimals, KOSMA keeps the previous rate and shows:
An exchange rate can have at most 5 decimal places, so the rate was not changed.
KOSMA ignores anything else you type.
To use the current market rate, click  **Update exchange rate** in the row. KOSMA fetches the rate online against the default currency, writes it into **Exchange Rate** and enters today's date in **Last Update**. A rate you type leaves this date unchanged. KOSMA never updates a rate on its own.
Click **Ok**. KOSMA saves the currencies and recalculates every converted figure in the budget.
In an account's **Price/Unit** cell, type the price and choose the currency from the list in the cell. The currency has no column of its own. **Total** shows the account in its own currency. A second total column, named after the reporting currency (for example **Total USD**), shows the same amount converted. For how KOSMA calculates both, see [how an account total is calculated](/kb/article/how-an-account-total-is-calculated).
In the toolbar, click the currency list and choose a currency. KOSMA shows the total column named after the currency, the company and effect columns and the grand total in that currency. Use this to show the budget in a partner's currency, for example.
KOSMA gives a new account the currency you chose here.
**Hide a currency.** The toolbar list shows only the currencies that are not hidden. To hide a currency, click  **Show/hide currency** in its row in **Currencies**. The currency list in a **Price/Unit** cell still offers a hidden currency, greyed out.
In **Currencies**, **In Use** shows how many accounts use each currency. To delete a currency, click  **Delete currency** in its row. If accounts use it, KOSMA lists them before you confirm.
When you delete a currency that is in use, KOSMA moves the accounts that use it to the default currency. This cannot be undone.
You cannot delete the default currency. Make another currency the default first. For the dialogs and messages, see [why some things can't be deleted](/kb/article/why-some-things-cant-be-deleted).
**If Update exchange rate changes nothing.** KOSMA could not fetch a rate: the computer is offline, or the rate service does not know the currency. KOSMA shows no message, and the rate stays as it was. Type the rate yourself.
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