Adding Currencies

To add new currencies, click into the Setup menu, click on Company Profile in the left pane, then click on Manage Currencies.

  • Click on the Manage Currencies button. Click the New button to add each currency used by your business. Check off your corporate/base currency as the default.
  • Note: The conversion rates will be setup next, even though the average conversion rate is a required field when setting up new currencies.
  • Please note that you should not ever change the corporate currency

 

 Adding Exchange Rates

Once all of your currencies have been setup, go back to the main “Manage Currencies” page and click on the Manage Dated Exchange Rates button.

  • This is where you can manually enter in all of the exchange rates for each currency that was setup. Simply click on the New Exchange Rates button and enter the current rates here.
  • It is important to note that these exchange rates will be active for the entire period until they are updated. If exchange rates are entered on October 25th and then updated again on November 5th and billing is processed on October 31st, then the associated exchange rate for the October 31st billing will be the rate that was entered on October 25th in the Manage Dated Exchange Rates list.

           

 

  • If you do not want to manually update these rates, there are 3 apps on the Appexchange that will update the currencies automatically for you. These are Currency Updater, Global Currency Updater, or Currencies on Demand.

 

 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.