Overview
The Currency Exchange feature allows users to create a Building Valuation with multiple currencies, creating a valuation in their local and reporting currencies. Users can choose the currency they want to convert from and the currency they want to convert to when submitting a Building Valuation. The system will then use monthly average exchange rates to ensure that the conversion rate is accurate and up-to-date to calculate the conversion rate between the two currencies automatically.
Related Information/Setup
Please see the article Submitting a Building for Valuation for information on creating a Building for Valuation.
Navigation
- From the Home screen, click the Navigation Menu and select Valuations from the dropdown menu.
Navigation Menu
- (Optional) From the Get Valuations screen, click the + Submit Building For Valuation button to create a new Building to submit for an Expert Valuation.
+ Submitting Building For Valuation Button
- (Optional) Click a Building Name on the Ready for Valuation section.
Build Name Link
Setting Up a Building Valuation Using Multiple Currencies for the Replacement Cost Estimation
- From the Submitting Building for Valuation screen, add a Value in the Building Client Declared Value field. The Building Client Declared Value is the Building's replacement cost if a rebuild is required.
Building Client Declared Value Field
- Select your Local Currency Country code from the Local Currency dropdown menu. The Local Currency is applied to the Building Client Declared Value field. The Local Currency field will default to the user-defined currency selected during the system setup.
Local Currency Field
- Select a Reporting Currency Country code from the Reporting Currency dropdown menu. The Report Currency is applied to the Building Client Declared Value on all reports.
Reporting Currency Field
- Ensure that all Required fields are filled out.
- Click the Send For Automated Valuation button to perform the system's Automated Valuation procedure.
Send for Automated Valuation Button
- The screen will refresh to the previous screen (Get Valuation screen).
- Click the Building Valuation under the Automated Valuation Complete section.
Building Valuation
- From the Details tab, click the Valuation Summary tab.
Valuation Summary Tab
- The Client Declared Value - Building field will show the Building Client Declared Value using the currency in the Reporting Currency field on the Submitting Building for Valuation screen.
- The Total Replacement Cost in local currency field will show the Building Client Declared Value in local currency.
Valuation Summary