Wednesday, September 30, 2015

Multiple currencies in salesforce.

Multiple currencies in salesforce.

Let's start with an example. Ravi is the Salesforce administrator at TCS. His company has sales representatives across the globe and deals coming in equally from the American, Asia-Pacific, and Europe/Middle-East regions. Currently, only the USD currency is enabled for her organization, so the sales reps are finding it difficult to enter the right amount in their local currency.

Multi-currency is a Salesforce limited and advance feature. After enabling it, the sales reps enter the amount in the Opportunity field in their local currency. Organizations can use multiple currencies in opportunities, forecasts, reports, quotes, and other currency fields. The administrator can set the corporate currency that reflects the currency of the corporate headquarters. The administrator also maintains a list of active currencies and their conversion rates relative to the corporate currency.

So, Ravi  decides to enable multiple currencies. He  contacts Support and has it enabled a few days later in his Sandbox.

Enabling a single currency
In a single currency organization, you can set the organization-wide currency locale for your company but your Salesforce users cannot set individual currency locales.

Enabling multiple currencies

To enable multiple currencies in your organization, follow these instructions:
  1. Click on the Help and Training link in the top-right corner of the page. This opens a new page in the window.
  2. Click on Contact Support followed by the open a case icon. 
  3. Fill in the form as shown in the following screenshot and in the Product Topics field, select Limits & Feature Activation's:                                                                                                                                                                                               
  4. In the Business Impact area, give a proper reason for every question.
  5. Click on Next and submit the case.
  6. You will get an e-mail in which the administrator of the organization will have to provide the following details: 
  • Organization ID
  • Default currency
  • Confirmation that you understand that multiple currencies can't be disabled once enabled
  • Confirmation that you are a system administrator authorized on behalf of your organization to request multi-currency enablement  and that you consent to the lockout of this organization for a certain period of time, depending on your organization's data usage volume
    7. Once you answer the e-mail, the multiple currencies feature will be enabled by

Adding a new currency
At any time, the system administrator can add a new currency to the organization. To do so, follow these steps:
1.  Navigate to Setup | Administer | Company Profile | Manage Currencies.
2.  Click on Add New to add a new currency. It will redirect you to a new window where you can add new currency to your organization.
3.  To do this, you have to select Currency Type, Conversion Rate (find it from any exchange website), and Decimal Places:

Changing the corporate currency
At any time, the system administrator can change the corporate currency of the organization. To do this, follow these steps:
1. Navigate to Setup | Administer | Company Profile | Manage Currencies.

 2. Click on Change Corporate.
 3. It will redirect you to a new window where you can select a new  corporate currency for your organization.

NoteA new corporate currency dropdown shows only those currencies that are currently active for the organization

Effects of enabling multi-currency
The following are the effects of enabling multi-currency:
  • Multi-currency cannot be disabled once enabled. 
  • All records have a default currency stamped that you mentioned at the time of enabling it. 
  • Objects such as opportunities, opportunity products, opportunity product schedules, and campaign opportunities include fields that are multi-currency compatible, which allows a specific currency for the record. The main use of such fields is to specify the primary amount. 
  • After multi-currency is enabled, all currency fields show the ISO code before the field value, for example, $50 is USD 50. 
  • Once the currency is added to the supportive currency list, it can't be removed from the administrator's currencies list, even when it is deactivated.  
  • Users can set their own personal default currency, which is known as the secondary currency. In reports (while running a report for the user), the primary default currency is shown as the organization's default corporate currency and the user's personal currency is shown as the secondary currency.

Thanks for reading......


Post a Comment

| ,