Setting up Multiple Currencies in Salesforce

Multiple currencies in Salesforce is one of the Salesforce-constrained and advanced features. You can indicate which currency standards your organization uses, and individual users can apply explicit currencies to their settings depending on where they do business.

After enabling it, sales reps can enter the amount in the opportunity field in their local currency. Organizations can also use multiple currencies in the forecasts, reports, quotes, and other currency fields. By default, Salesforce Orgs use only one currency. If you set the required currency in your company settings, all currency values in the records will be displayed in that currency.

Steps to activate multiple currencies in Salesforce organization?

Steps to activate multiple currencies in Salesforce organization:
Click on the gear icon at the top of the page and launch Setup.
Search for Company Information in the Quick Find box, then select Company Information.
Click on Edit.
Check Activate Multiple Currencies. Once the multiple currencies are enabled, you also: Activate additional currencies.
Need to ensure users have correct personal currencies.
Make sure that while creating records users use the correct currency
Enabling Multiple Currencies in Salesforce

Steps to activate multiple currencies in Salesforce organization:

  • Click on the gear icon at the top of the page and launch Setup.
  • Search for Company Information in the Quick Find box, then select Company Information.
  • Click on Edit.
  • Check Activate Multiple Currencies. Once the multiple currencies are enabled, you also:
    • Activate additional currencies.
    • Need to ensure users have correct personal currencies.
    • Make sure that while creating records users use the correct currency
Multiple Currencies in Salesforce

Active currency

Once a multicurrency feature is activated in the org, currencies can be activated or deactivated. Follow these steps:

  • Click on the gear icon at the top of the page and launch Setup.
  • Search for Company Information in the Quick Find box, then select Company Information.
  • Click on the Currency Setup button. The Active Currencies and Inactive Currencies will be listed out.
Multiple currency in Salesforce
  • From the list of inactive currencies, click on Activate next to the currency to activate a currency.
  • To deactivate the list of active currencies, click on Deactivate and then OK.
Dectivate currencies

Deactivating a currency does not modify the amounts in items that use that currency. The users still don’t seem to be ready to enter new amounts utilizing the inactive currency. What more, deactivating a currency that’s set as a user’s personal currency automatically resets the user’s currency to the company currency. The corporate currency cannot be deactivated.

Adding a new currency in Salesforce.

The administrator can add a new currency to the organization. Follow these steps:

  • Click on New in the Active Currencies window.
  • Select Currency Type. Currencies are alphabetized using their ISO currency codes.
  • Mention the Conversion Rate and Decimal Places.
  • Click on Save.
Adding a new currency in Salesforce

Setting up a corporate currency in Salesforce

The administrator can set up the corporate currency, which reflects the currency of the corporate headquarters. The administrator can also maintain the list of active currencies and their conversion rates relative to the corporate currency. Follow these steps:

  • From setup, enter Company Information and choose Company Information.
  • In the Active Currencies list, select Change Corporate.Setting up a corporate currency in Salesforce
  • Select your new corporate currency from the dropdown, as shown in the following screenshot:
Setting up a corporate currency in Salesforce1
  • Click on Save. Only currencies that are active in your Org will be available.

How to Add personal currencies in Salesforce?

Once multicurrency is enabled in the Org, currencies are activated, and conversion rates may be altered. Users may also add personal currencies to their profiles. Follow these steps to add a personal currency to your Org.

  • Click on your profile image at the top of the page and click on Settings.
How to Add personal currencies in Salesforce
  • Enter Language in the Quick Find, then select Language & Time Zone.
  • Update the Currency field and click on Save.

Leave a Comment

Your email address will not be published.

Scroll to Top