CRM Help

Managing Multiple Currencies

The multi-currency support in Zoho CRM gives you the advantage to easily handle business transactions in the global marketplace. If you regularly deal with international clients and vendors, then Multi-Currency will facilitate international buying and selling. With Multi-Currency support in Zoho CRM, you can:

  • Estimate the value of an opportunity using the currency you deal in and also in the customer's local currency.
  • Generate and view reports in your organization's currency.
  • Import a single file that contains data with values in multiple currencies.

Availability

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

Benefits

  • Eliminate the complexities in multinational businesses.
  • Easily consolidate financial data from company's multiple locations.
  • Minimize manual conversions and bring in automated efficiency.
  • Generate & share insightful reports of multi-currency transactions.

Terminologies

Home Currency

It is the primary currency that your organization uses for its business. Often this is the currency used to generate annual reports and calculate the company's income. The Home Currency is most relevant for multinational companies that do business in multiple currencies. For example, a company has offices in Japan, India, and Spain, but its headquarters are in the US. So, the financial figures of this company are expressed in terms of US Dollars. In the example, the Home Currency is US dollars.

Active Currency

These are the currencies in which your organization does business. Only active currencies can be entered in opportunities and other fields.

Inactive Currency

These are the currencies that your organization no longer uses. Once deactivated, these currencies will not be deleted. They will still be listed under Currencies.

Exchange Rates

It is the rate at which one currency can be exchanged for another. In your CRM account the exchange rate is used to convert an amount in one currency to the home currency used by your organization.

Record Currency

This is the currency for each record. All the currency values for a record will be based on the selected record currency.

Important Notes

Please go through the following points before you start using the multi-currency feature.

  • Only users with Administrator profile can activate this feature and add currencies.
  • Once activated, this feature cannot be deactivated.
  • The Administrator can add multiple currencies. Other than the Home Currency, only 10 more currencies can be active in the CRM account.
  • A record's Currency once set, cannot be modified.
  • You cannot mass update the record's currency (i.e. Currency field) for the records.
  • Multi-Currency is not supported in the Forecasts module. Forecasting is available only in the Home Currency.

Setting up Currencies

Add Home Currency | Add Currencies | Change Exchange Rate | Activate Currency | Deactivate Currency

Implementation Guide

Administrator Functions | User Functions

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