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Currency Support Feature

This document discusses LeadMaster application’s ability to support multiple currencies for a workgroup.

About Currency Support

LeadMaster includes the ability to support multiple currencies for a workgroup. The supported currency or currencies for a workgroup are defined by the administrator. The following currency fields can support multiple currencies:

  • Company revenue and lead value for a record / lead
  • Opportunity product unit price, line item total and total opportunity value for an opportunity

Overall Process for Implementing Multi-Currency Support

  1. The administrator identifies and configures the currencies that are supported for the workgroup.
  2. The administrator decides which currency is the base currency for the workgroup. The currency values for the supported fields are stored in the base currency.
  3. The administrator decides which currency is the default display currency for the workgroup.
  4. The administrator decides if the default display currency for the workgroup can be overridden at the record level – meaning that one record / lead can have a lead value in US dollars and a second record / lead can have a lead value in Euros.
  5. The administrator decides if the default display currency for the workgroup can be overridden by user preference for display currency – meaning that one user can view currency values in reports in US dollars and another user can view the same currency values in reports in Euros.

Configuring Support for Multiple Currencies

From the “Administration” page, click on the “Currency Support” link to display currency support pages.

Each workgroup by default does not support multiple currencies and lists only the US dollar as the supported currency.

To add support for additional currencies, check the “Support multiple currencies” checkbox.

When multiple currencies are supported for the workgroup, the following options are available to the administrator:

  • The ability to add additional supported currencies for the workgroup.
  • The ability to allow the default display currency for the workgroup to be overridden at the record level.
  • The ability to allow the default display currency for the workgroup to be overridden by the user preference for display currency.
  • The ability to set the base currency for the workgroup
  • The ability to set the default display currency for the workgroup

Adding Support for Additional Currencies

To add additional supported currencies, click on the orange ‘Add Currency’ tab.

A supported currency includes the following detail:

  • The ISO Code for the currency.
  • A long name for the supported currency.
  • The symbol (e.g. $) for the supported currency.
  • The exchange rate (relative to the base currency) for the supported currency.

Currently, the following currencies are supported (support for additional currencies can be added as needed):

  • Australian dollar
  • Canadian dollar
  • Euro
  • Hong Kong dollar
  • US dollar

How Currency Values Are Stored and Displayed

Currency values are stored in the base currency for the workgroup

For records and opportunities, the currency values are displayed in the default display currency for the workgroup unless:

  • If the administrator has configured currency support to allow the default display currency for the workgroup to be overridden at the record level the currency values for the record and associated opportunities are displayed based on the currency associated with the record.
  • If the administrator has configured currency support to allow the default display currency for the workgroup to be overridden by user preference for display currency AND the display currency has not been set at the record level, the currency values for the record and associated opportunities are displayed based on the user preference for default display currency.

Marketing and Opportunity Reports, Custom Reports and Dashboard Charts display currency values in the default display currency for the workgroup unless the administrator has configured currency support to allow the default display currency for the workgroup to be overridden by user preference for display currency. In this case, the currency values are displayed based on the user preference for default display currency.

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