CRM Help

Using Multiple Currencies

Before you start using this feature, the Administrator in your organization's CRM account needs to add the Home Currency and multiple other currencies. Only then, other profile users can start using the currencies in creating opportunities, quotes, invoices etc.

Availability

Profile Permission Required: Users with the Administrator profile can set up this feature.

Activate Multi-Currencies & Add Home Currency

Users with Administrator profile need to first activate this feature by adding the home currency. Please note that once activated, you cannot deactivate this Multi-Currency feature.

On activation:

  • The system will take a while to apply Home Currency as the record's Currency for all the existing records in the CRM account.
  • All the users with the Zoho defined Administrator profile will receive an email, informing them that the multi-currency feature is activated in the organization's CRM account.
  • The exchange rates for the existing records will be set as 1.
  • The Currency Locale field will not be available under the Setup > Organization Settings > Company Details.

To activate multi-currencies & add home currency

  1. Click Setup > Organization Settings > Currencies.
  2. In the Currencies page, select the Home Currency from the drop-down list.
    Note that the home currency cannot be changed. The format of the selected currency will be shown.

  3. Click the Customize link to change the following:
    • Select the Thousand Separator from the drop-down list.
    • Select the Decimal Places from the drop-down list.
    • Select the Decimal Separator from the drop-down list.
    • Click OK.
  4. Click Confirm.

Add Multiple Currencies

After activating the feature by adding the home currency, the administrator can add other currencies that company uses for business. Other users will then be able to select these currencies to use them as a record's currency while creating leads, contacts, potentials etc.

Note

  • The Currency field will be available in the records only after the multi-currency is activated.

To add multiple currencies

  1. Click Setup > Organization Settings > Currencies > Add Currency.
  2. In the Add Currency pop-up box, do the following:
    • Select a Currency from the drop-down list that will be set as the home currency.
      Based on the currency that you select, the currency Format will be populated.
    • Click the Customize link to change the currency format.
    • Select the Symbol, Thousand Separator, Decimal Places and Decimal Separator.

    • Enter the Exchange Rate for the currency that you are adding.
  3. Click Save.

Change the Exchange Rate

The exchange rate is specified while adding multiple currencies. Each record will have the Zoho defined field named Exchange Rate with the conversion value based on the record currency. This is added to keep a note of the rate of conversion at the time of record creation. When the multi-currency feature is activated, the home currency will be set as the record currency for all the existing records. As a result, the exchange rates for the existing records will be set as 1.

Note

  • Changing the exchange rates will not affect the existing records.

To change exchange rate

  1. Click Setup > Organization Settings > Currencies.
  2. Click on the currency for which you want to change the exchange rate.
  3. In the Edit Currency pop-up box, modify the Exchange Rate for the currency.
  4. Click Save.

Deactivate Currency

When your organization no longer uses a currency for business, then you can deactivate it from your CRM account. On deactivating a currency:
  • The currency will not be deleted as you can only deactivate them.
  • New records cannot be created using the deactivated currency. However, you may be having existing records that use the deactivated currency.
  • The deactivated currency will be available under the list of currencies you have added.

To deactivate currencies

  1. Click Setup > Organization Settings > Currencies.
  2. Click on the currency that the organization no longer uses.
  3. In the Edit Currency pop-up box, select the Mark as Inactive check box.
  4. Click Save.

Activate Currency

Activate the inactive currencies added in your CRM account whenever you want. Note that only 10 currencies can be active in your company's CRM account.

To activate currencies

  1. Click Setup > Organization Settings > Currencies.
  2. Click on the currency that you want to activate.
  3. In the Edit Currency pop-up box, select the Mark as Active check box.
  4. Click Save.

FAQ

1. What will happen if I deactivate a currency that is in use?

2. Can I mass update the Currency field for the records?

3. How can I delete the currencies that I am not using?

Top