SOP: Create and Apply Rate Cards for Multi-Currency Projects in Runn
Objective
This SOP explains how to work around thelack of multi-currency support by creating separate accounts or using rate cards within a single account. It also covers how to apply the correct rate card to a project and the key risks to watch for when updating rates.
Key Steps
1.Determine the best workaround if you need multiple currencies.
Runn does not currently support multi-currency within a single account.
Multiple Accounts
If different offices need different currencies, create separate accounts.
Keep in mind: each account will have its own settings and currency structure but there is no overall reporting available for multiple accounts.
Plan for external consolidation if needed. You may need to send reports to an intelligence or BI tool to combine results across accounts.
Use this approach only when separate accounts are necessary for currency management.
Single Account- Using Rate Cards
Create a rate card within one account
Go to the Manage area.
Open the Rate Card section.
Select New Rate Cards.
Review the standard/current account rates that load automatically
Name the rate card clearly by location or currency. Example: UK Rate Card.
Determine the correct static exchange-based rate.
Check a trusted external source or consult your finance team.
Remember that the rate is static and not automatically linked to live exchange rates.
Enter the appropriate rates for the new location/currency.
Click Save when the rate card is complete.
2. Apply the rate card to the project
When creating a project, select the rate card that matches the project location/currency.
Example: For a UK project, choose the
UK Rate Card.Verify the client/project setup before saving. This helps ensure the correct pricing is applied from the start.
Click Create to finalize the project.
Understand that values may still display in the account currency
while you work.
The selected rate card adjusts the pricing behind the scenes to the correct levels.
Review the project totals after creation to confirm the rate card is being applied as expected.
Changing the rate card
If you selected the wrong rate card, switch back to the standard card if needed.
Use Copy All Rates when switching so the rates update automatically. (Small arrow next to the rate card name on the budget modal)
If you do not copy rates, the project may continue using the previous rate card values.
Double-check the project after making any changes to avoid pricing errors.
Be aware that changing a rate card or project rate affects the entire project duration.
Historical data will also be updated if you apply a new rate card or modify rates.
Before making changes, confirm the impact with stakeholders if the project is already in progress or reported on.
Other projects using the rate card will not automatically be updated- you need to apply the rate to each project individually or using the csv.
Reminders
Changing the currency in Account Settings only changes the symbol and does NOT automatically apply an exchange rate.
Separate accounts do not provide combined reporting automatically.
Rate cards use static rates and are not connected to live exchange rates.
Changing a rate card or project rate can alter historical project data across the full project timeline.
Always verify the correct rate card before creating or updating a project.
Tips for Efficiency
Create a clear naming convention for rate cards by country or currency (for example,
UK Rate Card,EU Rate Card).Keep a trusted external exchange-rate reference or finance contact for rate validation.
Standardize who is responsible for creating and approving rate cards to reduce errors.
Review project setup before clicking Create to avoid rework.
If you manage multiple accounts, establish a separate reporting process for consolidating data externally.