Managing CurrenciesTo allow users to conduct and track business in any currency, you need to activate those currencies. Otherwise, the default currency set up for the company is the only option. If your employees record transactions in other currencies, you also need to set up exchange rates between those currencies and your company's default currency. The application uses the exchange rates when rolling up revenue for reports and forecasting. CAUTION: Be sure to set up exchange rates before your users enter transactions for all currencies you activate. You can enter multiple exchange rates for any active currency. Each entry consists of the Exchange Date and an Exchange Rate for that date. In determining which exchange rate to use for a particular transaction, the application follows these rules: How Oracle CRM On Demand Converts Exchange Rates Between the Company Default Currency and the User's Default CurrencyIn this case, a company has the following currencies:
How Exchange Rates Are Applied to Forecast Rollups In this case, the following rules apply:
How Exchange Rates Are Applied to Reports For reports, exchange rates are applied in a more general way than for forecasting. A single exchange rate is determined for each month, and all transactions within a month use that rate. For example, for opportunities, Oracle CRM On Demand uses the Opportunity Close Date that is closest to the Exchange Rate Effective Date. For asset currency-conversions, Oracle CRM On Demand uses the Purchase Date field as the date. For opportunity products, Oracle CRM On Demand uses the exchange rate that is closest to the start date of the product revenue. For other objects, including custom objects 01-03, Oracle CRM On Demand uses the created date to determine the exchange rate date. For custom objects 04-15, Oracle CRM On Demand uses the Exchange Date field. The exchange rate assigned to a month is determined as follows:
NOTE: During forecasting, all opportunities are converted to the company default currency for forecast rollups. However, in reports, revenue fields are converted to the end user's currency amount. You need to wait until the daily analytics refresh runs when either of these situations occurs:
The refresh automatically generates any required cross exchange rates. After that, you can run historical or real-time reports. NOTE: If the currency code on a record is blank, then Analytics assumes that the values in the currency fields on the record are in the company's default currency. In any analysis that includes the record, the values that are returned in the currency fields are the corresponding values in the currency for the analysis, calculated using the appropriate exchange rate. The currency for an analysis is the currency that is selected on the user profile of the user who is viewing the analysis. If no currency is selected on the user's profile, then the default currency for the company is used. However, if a currency prompt is set up on the analysis, then the user can select a different currency. Whenever users change their default user currency, they must sign out of Oracle CRM On Demand, and then sign in again before reports display data in the newly selected currency. Before you begin. To perform the procedures for managing currencies, your role must include the Manage Company - Define Currencies privilege. Also, to understand the effect of currency settings, read About Profile Settings for Users. To activate currencies
To define the exchange rates
To view a history of exchange rates
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Published 6/21/2021 | Copyright © 2005, 2021, Oracle and/or its affiliates. Legal Notices. |