| Developers: | Red Lab |
| Date of the premiere of the system: | 2016 |
| Last Release Date: | 2023/06/19 |
| Technology: | Project Management Systems |
The main articles are:
2023: Issue of multicurrency to account for international projects
On June 19, 2023, Red Lab announced the release of multicurrency for Timetta to account for international projects.
This function is intended for companies from the professional services sector that conduct international business and operate in different currencies.
 | A significant part of our clients conduct international business, implement projects with foreign customers. The most popular destinations Middle East are the regions. Asia The peculiarity of such projects is that revenue, costs and cost of resources can be denominated in different currencies. For example, if employees from Russia implement a project in, Kazakhstan revenue can be nominated in tenge or, dollars USA cost in, and rubles costs in any currencies at all. This variety makes it difficult to build a consolidated P&L on the project and earlier in Timetta it was necessary to manually convert currencies in order to reduce revenue and costs into a single report. In the latest update, we added multi-currency support to Timetta. Now the currency conversion is performed automatically, taking into account the history of changes in exchange rates. As a result, financial it has become much easier to plan and control indicators for international projects - commented on the update Alexander Spiridonov, Timetta Director. to consulting |  |
Timetta's multicurrency automatically converts cost of work, direct costs and project revenue in different currencies into the company's base currency, making it easier to generate reporting and accurately measure financial results. Now companies can work with clients and projects, settle in various currencies, minimizing the difficulties and risks associated with taking into account international projects.
One of Timetta's key capabilities is flexible exchange rate setting. Users can accurately specify the exchange rate or use automatic updates via the API. This allows companies to more accurately track changes in exchange rates and correctly account for them in the financial statements.
In addition, Timetta provides flexible configuration of project currencies. Companies can choose the currency in which planning and accounting will be maintained for each individual project. This is especially useful when costs and revenues in different currencies arise within the same project. Timetta automatically translates all key figures into the base currency.
2016: Platform Creation
Timetta was created in 2016 (at that time - "WorkPoint") by immigrants from. Russian consulting
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