Accounting Seed leverages Salesforce's Currency Tables and multi-currency functionality. To enable multi-currency for Accounting Seed the following steps must be followed:
- Contact Salesforce and have them enable multi-currency. You will be asked to confirm this decision because it is irreversible.
- Contact Accounting Seed support and ask to enable multi-currency. You will again be asked to confirm because this is irreversible.
- Along with enabling this, Accounting Seed will setup a default “realized gain/loss on foreign currency” expense GL account and add this to the Accounting Settings tab. This account will be used to capture realized gain/loss on foreign currency exchange.
- Also you will be required to declare your financial reporting currency. Once this is set it is not changeable
Once Multi-Currency is enabled by both Salesforce and Accounting Seed navigate to Setup/Company Profile/Manage Currencies and set the following configurations:
- Enable “Advanced Currency Management”
- Disable “Parenthetical Currency Conversion”
Once this has been completed your screen should look like the one below:
Page Layout Adjustments
- The following fields should be added the Billings, Cash Receipts, Accounts Payable, and Cash Disbursement object page layouts:
- Currency Conversion Rate
- Ledger Amount
Below is an example of how the billing page will look after adding these fields.