Multi Currency:

Multi Currency:
Description

Please read below as some aspects of the multi currency feature needs review before this feature is activated in your organization.  Salesforce will activate this feature for you.  Please open a new support case to start the process.

Resolution

To our Customer,

The overall turn around time to activate this feature could take 2 to 3 business days as engineering needs to review the technical specifications in your org.

Please reply to the support rep handling this case OR submit a case comment with the following 4 questions:

1. What is Organization ID of the production or sandbox instance needing this feature?  (Navigate to Setup > Company Profile > Company Information):  

2. What is the default currency stamp on existing and future records (i.e. USD, EUR, GBP):  

3. Do you understand that once multi currency is activated, it CAN'T be deactivated? (we encourage testing this first in a trial/DEV org or a sandbox):   

4. Are you the system administrator authorized on behalf of this organization to request this feature and that you consent to the lockout of this org for a certain period of time as described below?: 

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THIS PROCESS LOCKS THE ORG when we activate Multi Currency (preventing users from logging in or any integrations to process)

**For orgs less than 100 MB of USED DATA SPACE (excluding file size which is attachments), we can activate anytime as the org lock time will be less than 2 minutes.
**For orgs between 100 MB to 10 GB, we can activate during the week after 5pm your time zone and the org lock time can be up to an hour.
**For orgs greater than 10 GB, we can activate after Friday 5pm your time zone and the org lock time can be up to several hours.  We will coordinate with you before proceeding.

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Please read below as some aspects of the multi-currency feature need to be reviewed before this feature is activated in your organization.

1. When salesforce.com converts your organization to multi-currency (MC), we must stamp all existing records with one currency code. Therefore, if you've entered Opportunities in MC (for example, MC is not activated and all reps in the US have entered USD and all reps in Europe have entered amounts in EUR) you will need to switch all of these to one currency first. This type of conversion can be supported via a SFDC paid implementation service.

2. Be aware that when you add a currency to your organization's list of supported currencies, you cannot then delete that currency from the Administrator's screen. This is a purely cosmetic issue. You may deactivate currencies so end users will not see them when creating new Opportunities, etc. However, the Administrator will always see inactivated currencies in the manage currencies list. SFDC recommends keeping this in mind when doing initial configuration. Test with currencies that you will eventually use in the business.

3. All currency fields in SFDC will now display with the ISO code of the currency preceding the number. For example, $100 will change to USD 100. 

4. Currencies are automatically updated when conversion rates change.  The rates are not automatically maintained.  They must be updated manually.

5. Primary currency will show up as before but now an additional value in parentheses will show the converted amount in the secondary currency. The primary currency will be the corporate default currency unless overridden per record using fields such as Account Currency, Opportunity Currency, etc. The (converted) amount shown is always your personal default currency. Please note, the fields AccountCurrency and Opportunity Currency are only available in [New] and [Edit] mode.

6. Objects with converted currency fields include Opportunities, Opportunity Products, Opportunity Product Schedules, Campaign Opportunity fields, and reports related to these objects and fields.  MC fields are on these page layouts by default.

7. By default only your current exchange rate settings in SFDC are used for converting ALL amounts; change an exchange rate, and all records, even closed Opportunities will show updated converted amount for secondary currency.
**However, you can track historical exchange rates using Advanced Currency Management. When enabled by you, ACM allows maintaining of a list of exchange rates and which date ranges they apply to. Converted "Amount" field on Opportunity - regardless of stage - will display based on exchange rate for the given Close Date. Changing the Close Date will impact (converted) amounts if it changes to a different exchange rate period.  NOTE: Dated exchange rates are not used in forecasting, currency fields in other objects, or currency fields in other types of reports.

8. Opportunity records will have new standard required picklist field called Opportunity Currency visible only in the New and Edit modes. The selected currency for each Opportunity is used for the primary amount field.

9. End users will see a Currency option in Setup | Personal Information which they may Edit and set to determine the currency for converted amounts. Switching that default will change the currency for converted amounts real time as they view or report on records.

10. Reports will show primary amounts per the Opportunity currency for each included record. Reports will show converted amounts in the currency of the user running the report OR the currency set using the picklist in the bottom of the report criteria page.