Implications of Enabling Multiple Currencies | Salesforce
Implications of Enabling Multiple Currencies
Enabling multiple currencies introduces permanent changes in your organization. Before proceeding, be aware of these implications to ensure a smooth transition for your organization.
Available in: Salesforce Classic
Available in: Group, Professional, Enterprise, Performance, Unlimited, Developer, and Database.com Editions
After enabled, multiple currencies can’t be disabled for your organization.
Work with your Salesforce representative to determine the best time for multi-currency enablement. The enablement process temporarily locks your organization, preventing all integration processing and user logins. The lockout duration depends on the data space used by your organization.
Upon enablement, existing records are stamped with a default currency code that you provide in your enablement request. For example, if your organization contains records using USD and EUR, switch them all to the same default currency before enablement. Support for this type of conversion is also available as a Salesforce paid implementation service.
Standard and custom objects, such as Account, Lead, Case, Opportunities, Opportunity Products, Opportunity Product Schedules, and Campaign Opportunities, have currency fields that support multiple currencies. Reports related to these objects and fields also support multiple currencies. By default, page layouts for these objects have multi-currency-compatible fields in which you can specify the currency for the record. Typically, these fields are available only when creating a record or editing an existing record. The selected currency is used for the primary amount field.
After enablement, the primary currency displays as usual and, optionally, a secondary currency amount appears in parentheses. The primary currency is typically the default corporate currency, unless it’s overridden at the record level. The amount shown in parentheses is the user’s personal default currency, calculated based on the conversion rate settings defined in your organization. To control whether the converted currency amount appears, enable or disable parenthetical currency conversion from the Manage Currencies page.
In reports, the primary currency reflects either the default corporate currency or the currency selected for the record. The secondary currency reflects the personal default currency of the user running the report, or the currency specified in the report criteria.
Users can specify a personal default currency on their personal information page. If parenthetical currency conversion is enabled, the personal default currency displays as the secondary currency amount (converted amount). Changing the personal default currency updates the converted amount in real time.
After a currency is added to an organization’s list of supported currencies, it can’t be deleted from the administrator’s list of currencies, even when it’s deactivated. The presence of inactive currencies in the administrator’s list is a cosmetic issue that doesn’t affect end users. A deactivated currency isn’t visible to end users, but remains visible to administrators. Salesforce recommends that you keep this issue in mind during testing and use only those currencies that you eventually plan to use in your organization.
After enablement, all currency fields display the ISO code of the currency before the amount. For example, $100 displays as USD 100.
If you have only one currency in your multi-currency organization, you can set a preference to display currency symbols instead of ISO codes. To display currency symbols, search Setup for User Interface, and then select Show currency symbols instead of ISO codes in the Currency Display Settings section of the User Interface settings page. If you later enable more currencies in your organization, ISO codes display and this preference is no longer available. This preference applies only in the standard Salesforce user interface.
By default, all converted amounts in your organization rely on the current conversion rates defined for your organization. Conversion rates must be set and updated manually. Changing the exchange rate automatically updates converted amounts on all records, including on closed opportunities.
You can opt to use dated exchange rates by using advanced currency management to track historical exchange rates. Advanced currency management allows you to maintain a list of exchange rates by date range. Converted currency amounts on opportunities display based on the specified Close Date, regardless of the opportunity stage. If the Close Date changes to a different exchange rate period, changing the Close Date impacts converted amounts.
Dated exchange rates aren’t used in forecasting, currency fields in other objects, or currency fields in other types of reports.