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#### Managing Currencies To 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 Currency In this case, a company has the following currencies: The default currency for a company is the U.S. dollar (USD). This company also has additional currencies activated: the euro (EUR) and pound sterling (GBP). This company has defined exchange rates between USD and EUR, and between USD and GBP. The user enters the opportunity revenue in EUR. However, the user default currency is GBP. Oracle CRM On Demand performs the EUR to GBP conversion as follows: It first converts the opportunity revenue to the company default currency; that is, from EUR to USD. It then converts the opportunity revenue to the user's currency; that is, from USD to GBP. How Exchange Rates Are Applied to Forecast Rollups In this case, the following rules apply: If there is an exchange rate defined for the same date as the transaction, it uses that Exchange Rate value. If no exchange rate is defined for the same date as the transaction but there are exchange rates defined for dates before the transaction, it uses the exchange rate with the date that is nearest to the transaction date. If no exchange rate is defined for the same date as the transaction and there are no exchange rates defined for dates before the transaction, it uses the next available exchange rate that has a date after the transaction date. For example, if exchange rates are entered for only 5/15/2004 and 8/15/2004, then this occurs: For transactions prior to 5/15/2004, the 5/15/2004 rate is used. For transactions between 5/15/2004 and 8/14/2004, the 5/15/2004 rate is used. For transactions on or after 8/15/2004, the 8/15/2004 rate is used. 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: If more than one exchange rate exists for a month, the one with the latest date in that month is used. If no exchange rates exist for a month, that month's exchange rate is set to the same rate as the closest future month that has a rate defined for it. If there are no exchange rates for future months, the first previous month's exchange rate is used. For example, if exchange rates are defined for 5/10/2004, 5/20/2004, and 8/14/2004, then: The May 2004 rate will be the value set for 5/20/2004 (the latest rate set for May). The August 2004 rate will be the value set for 8/14/2004 (the only rate set for August). April 2004 and prior months will be assigned the rate for 5/20/2004. There are two dates for the month of May. June and July 2004 will be assigned the August 2004 rate (closest future month). September 2004 and future months will be assigned the August 2004 rate (no future month, so first previous month is used). In reports, any values that require conversion between currencies will use the exchange rate defined for the month that the transaction falls in, calculated as described above. 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: A new currency is activated for your company and the exchange rate is set up A new currency is selected by a user that no other user for your company has selected (on the Personal Detail page) 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 In the upper right corner of any page, click the Admin global link. In the Company Administration section, click the Company Administration link. In the Currency Definition section, click the Currency Definition link. On the Currency Setup page, select All Currencies from the drop-down list. Click the Edit link for the currency you want to activate. On the Currency Edit page, select the Active check box. (Optional) On the Currency Edit page, you can change the symbol corresponding to the currency. For example, you might want to distinguish currencies by their currency codes instead of by their symbols. Therefore, you would change $ to USD, ¥ to JPY, and € to EUR. NOTE: You can use any symbol to represent a currency, except those symbols used by certain locales for thousands separators or decimals points, that is, a period (.), a comma (, ) or a space ( ). Save the record. To define the exchange rates In the upper right corner of any page, click the Admin global link. In the Company Administration section, click the Company Administration link. In the Currency Definition section, click the Exchange Rates link. The Exchange Rate Edit page appears with the latest exchange rates for your activated currencies. If no exchange rate has been defined, it appears blank. NOTE: The To Currency is always the currency that is set for your company. You must enter exchange rates that tell the application how to convert each active currency into that currency. To add a new exchange rate for an active currency: Click the Exchange History link for the Currency row for which you want to add a rate. On the Exchange Rate page, click New. On the Exchange Rate Edit page, complete the information. For Exchange Rate, enter how many units of the To Currency it would take to buy one unit of the From Currency. Example: 1 Euro = 1.3 US dollars. Assuming your company's currency is set to US Dollars (USD), you would enter these values: From Currency: EUR To Currency: USD Exchange Rate: 1.3 Click Save. To view a history of exchange rates In the upper right corner of any page, click the Admin global link. In the Company Administration section, click the Company Administration link. In the Currency Definition section, click the Exchange Rates link. On the Exchange Rate Edit page, the latest exchange rates appear for different currencies. To see the history of exchange rates for a single currency, click the Exchange Rate History link. A history of the exchange rates appears.

Published 5/23/2022 | Copyright © 2005, 2022, Oracle and/or its affiliates. Legal Notices.