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Best Practice for moving from an obsolete currency to a new currency

Knowledge Article Number 000005670
Description Best Practice for moving from an obsolete currency to a new currency
Resolution

 

Process to move from an obsolete currency to a new currency

 

Best practice:

In terms of best practices for moving�from old to new currency,�we would recommend leaving the existing (open or closed) opportunities as they are because a change in currency would have an impact on products. (To change the opportunity currency, you must first delete products associated to it). You should utilize the new currency starting with new opportunities.


1 Activate the appropriate currency.
2 Products
Run a report to identify which products are created with the obsolete currency.Then add the same products in the new currency to the appropriate price books/product groupings.
(Standard price book + Region specific)

Deactivate the products entered in the old currency (un-tick the Active price check box at currency level, not the active check box on the product name)
3 Users
Run a report to identify which users use the obsolete currency. Export the report including the user ID.
4 Deactivate the currency
This will automatically update the user records of those using the old currency to the corporate currency (USD).
5 Users
Update the user records previously exported with the new currency.

Users should now be able to create new opportunities with products in the new currency.

 

Note that all existing opportunities (created prior the change of currency) would not be affected and would therefore list the opportunity currency and products in the old currency.





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