Product Update

March 14, 2002

1. Multicurrency: configure currencies on invoices, expenses, POs.

OpenAir has extended multicurrency functionality throughout the complete solution. Multinational companies can now define base currencies into which other currencies can be translated when creating invoices, POs, or expense reports, displaying reports and list views, or exporting data to a financial or accounting system.

To enable the new multicurrency functionality enhancements, account administrators navigate to My Account>Company>Currencies>Multi-currency and check the box. Then, the administrator selects base currencies.

For expense reporting, users can record expenses in either a base currency or any other currency. To create a receipt in a base currency, users simply select the appropriate currency from a dropdown menu. To create receipts in a foreign currency that is not listed as a base currency, navigate to Expenses>Envelopes>select the appropriate envelope>select Foreign Currency Receipt from the New Entries: Create drop down and fill out the form as usual. Foreign currency receipts will be translated into the appropriate base currency when the expense report is created.

To view and send an invoice made up from multiple currencies, authorized users can do one of two things. First, users can navigate to the Projects>Projects>select appropriate Project>Edit screen and then select the default currency for that project. Unless otherwise instructed, the OpenAir solution will display all invoices for this project in the currency selected. Alternatively, users can create an invoice as usual, then navigate to the Invoices>Invoices>select appropriate Invoice>Edit screen and override the default currency with a different base currency.

To view and send a PO made up from multiple currencies, authorized users navigate to the Purchases>POs>select appropriate PO>Edit screen>select desired currency.

To report on data made up from multiple currencies, navigate to the desired reports in the Reports tab. Then when setting up the report, select the currency or currencies desired and run the report.

2. Taxes: configurable tax rules for invoices, expenses, POs.

OpenAir has enhanced its ability to handle complex US and Canadian tax treatments. You can now define tax locations that contain the tax rule information for a specific tax regime (usually a geography). Once you have defined tax locations, users can apply those rules to expenses, invoices, and POs.

To enable enhanced tax functionality, account administrators navigate to My Account>Company>Settings>scroll to Tax Options>select Tax Locations.

To create tax locations that reflect the different tax rules that apply to expenses, invoices, etc., navigate to My Account>Account>look under Account Data section>click on Tax Locations. Then select Tax Location from the New Entries: Create dropdown. The tax location form prompts the user to specify tax types, tax amounts, and general ledger account numbers associated with these taxes, if any.

Users apply taxes to expenses by selecting the tax location in which a specific expense was incurred when filling out a receipt. When users or managers view the expense report, separate line items for various taxes will be displayed.

To apply taxes to invoices, authorized users must indicate on a project-by-project basis the tax location that applies to invoices sent for that project. Navigate to the Projects>Projects>select a Project>Edit project screen>select appropriate tax location for the invoices associated with that project. Once the tax location is specified for a project, authorized users create, view, and send invoices as they normally do.

To apply taxes to POs, authorized users must first set a default tax location for each vendor. To configure vendor tax locations, navigate to My Account>Account>select Vendors from the Purchases section>select appropriate Vendor>scroll down and select appropriate tax location for that Vendor. Once the Vendorís tax location is set, every PO generated for goods from that Vendor will display taxes per the rules of that Vendorís tax location.

3. Resources: run utilization reports by geography, function.

Users using the Resources scheduling and staffing module can now run utilization reports displayed by their companyís organizational hierarchy. View forwarding-looking percent booked utilization and historical utilization reports by department, geographic locations, office, function, etc. To use the features, navigate to the desired utilization report, and then select the appropriate hierarchy of users by which to view the data and run the report.

4. Purchases: re-bill project-related purchases to clients.

OpenAir users that use project billing and recognition rules can now re-bill to their clients purchases made through the Purchases module. Re-billing of purchases can be used by a variety of companies that buy equipment, third-party services, or other items that they then want to pass along to their customers. These include systems integrators, advertising and media firms, consulting firms, and other similar organizations.

To use the functionality to re-bill products purchased via PO, authorized users navigate to Projects>Projects>select appropriate projects>Billing. Then select Purchase Item Billing Rule from the New Entries: Create dropdown and specify the billing rule. Once the billing rule is configured and after purchases have been marked as fulfilled in the PO module, click on the Run Billing tab. A detailed list of all purchases associated with the project will display. Authorized users can then check the box next to the products that should be made into charges and placed on an invoice.

To use the functionality to recognize revenue associated with purchases made for a project, authorized users navigate to Projects>Projects>select appropriate projects>Recognition. Then select Purchases Rule from the New Entries: Create dropdown and specify the revenue recognition rule. Once the recognition rule is configured, purchases have been marked as fulfilled in the PO module, and those items have been re-billed using a billing rule, click on the Run Recognition tab. A detailed list of all purchases to be recognized for that project will display. Authorized users can then check the box next to the products that should be recognized and exported to a financial system.

5. Webinar: OpenAir demonstration for current customers.

OpenAir is constantly expanding the depth and range of its product features and functionality. As a customer, it may be difficult to keep track of all the changes. We want to make sure you are aware of the full span of OpenAir functionality, so you can get as much value as possible out of your account. To this end, we are conducting a series of online seminars for current users.

We will show you how OpenAir can be used to manage the sales pipeline and create proposals in Opportunities, create employee profiles, find and book resources, and evaluate utilization rates in Resources, manage and collaborate on projects using Projects and Workspaces, track time and expenses to projects, and set up approval processes in Timesheets, Expenses, and Purchases, handle complex project accounting and billing rules in Projects and Invoices, and manage key customizable account settings such as roles, terminology, data filters, calendar settings, and hierarchies in My Account.

We are offering two sessions for current users this month:
Wednesday, March 20, 12-1pm EST.
Tuesday, March 26, 12-1pm EST.

The purpose of these seminars is to expose you to functionality you are not currently using, rather than to train you in detail on how to use specific features. If you are interested in arranging a training session, please contact Tim Groves at 617-351-0272 or tgroves@openair.com.

6. Tradeshow: join us at ProjectWorld in Toronto.

OpenAir welcomes users who are coming to ProjectWorld Toronto on April 10 and 11, 2002. Please stop by the OpenAir booth and meet our representatives.

7. Would you like to see previous OpenAir updates?

Click here to browse previous updates including all new features, modules and functionality.

8. Suggestions, problems, or questions?

As always, please contact us at support@openair.com or 888.367.1715 (outside the U.S. and Canada, call 617-351-0226). We pride ourselves on the outstanding care we give our customers. Please let us know how we improve your experience with OpenAir.