How do I enable multiple currencies in Sales?

Oracle Sales objects like opportunities and leads support multiple currencies.

This table has the high-level steps to set up multiple currencies in sales:

Step	Description	Where to Find More Information
Set the default currency profile options.	Set the two profile options that specify default corporate currency and rate type.	See: Set Default Currency Profile Options
Check the setting of the default currency profile option.	Check the setting of the default currency profile option. This currency is the default used for salespeople in the transactional pages. The default currency is also used in a salesperson's forecast.	See: Check Default Currency Profile Option Setting
Ensure currencies are enabled and verify precision.	Ensure that all of the currencies you plan to use are enabled for use and verify the precision.	See: Ensure Currencies are Enabled and Verify Precision
Set the multicurrency profile option for opportunities.	By default, one currency is set for an opportunity and its product lines. This default currency is a salesperson's preferred currency. If you want to enable multiple currencies for opportunities, set the multicurrency profile option.	See: How do I allow salespeople select a different currency in Opportunities and Leads?
Let salespeople select the currency when editing leads and opportunities.	In the opportunity and lead edit pages, the Currency list of values is read-only by default. If you've enabled multiple currencies, you can let users pick a different currency at the header level by making the Currency field editable.	See: How do I allow salespeople select a different currency in Opportunities and Leads?
Enter currency daily rates.	To load daily rates, you can use a spreadsheet or web services.	See: Load Daily Rates Automatically Using Web Services
Define and maintain daily currency conversion rates and conversion rate types.	The conversion rate is the ratio between two currencies; it shows how much of one money exchanges for another. Conversion rates are also known as foreign exchange rates. You define and maintain different conversion rates between currencies for the same period using conversion rate types.	See: Enter Daily Rates Using the Daily Rates Spreadsheet

Set Default Currency Profile Options

Your first step in the setup is to specify the default corporate currency and rate type by setting the Corporate Currency Default and Exchange Rate Type Default profile options.

Here's how you set the profile options:

1. As a setup user, in Setup and Maintenance, go to:
   • Offering: Sales
   • Functional Area: Company Profile
   • Task: Manage Currency Profile Options
2. On the Manage Currency Profile Options page, click ZCA_COMMON_CORPORATE_CURRENCY and set it to your default corporate currency. The display name for this profile option is Corporate Currency Default. It stores configured corporate currency used across the applications.
3. Save your changes.
4. Click ZCA_COMMON_RATE_TYPE and set it to the default currency rate type. The display name for this profile option is Exchange Rate Type Default. It stores the default currency exchange rate type.

Check Default Currency Profile Option Setting

You also need to check the setting of the profile option that specifies default currency for users in the applications. The profile option, Default Currency (FND_CURRENCY), not only specifies the default currency in the transactional pages, it's also used in a salesperson's forecast. By default, the profile option is set to US dollar. You can set this profile option at site level (affecting all users of the environment), at product level, or at user level.

Note: Users can set their own currency preference in the Personalization screens available in the user name menu in the global header. The setting users set for themselves override the settings that you make in the profile options screens at site or product level.

Here's how to check the default currency setting:

1. In the Sales offering, go to:
   • Functional Area: Sales Foundation
   • Task: Manage Administrator Profile Values
     Note: If you can't find this profile option, search for it from the main Sales offering page, using the search available in the Tasks widget available in the collapsed panel on the page.
2. On the Manage Applications Core Administrator Profile Values page, search for and select the profile option name, Default Currency, or the code, FND_CURRENCY.
3. Ensure the profile option value is set to your environment's default currency at site level.

To set the profile option for a specific user, create a new row in the table and enter the values as needed.

Ensure Currencies are Enabled and Verify Precision

By default, all currencies are enabled. But it's a good idea to double-check that all of the currencies you plan to use are enabled and that their precision levels are set correctly. Precision is the number of digits placed after the decimal point. For example, set USD to precision 2 to display one dollar as $1.00 in the UI.

Here's how to check:

1. In the Sales offering, go to:

   • Functional Area: Company Profile
   • Task: Manage Currencies
2. On the Manage Currencies page, click Search to search for all currencies, without entering any search criteria.
3. Check that the Enabled option is set for each currency you plan to use.
4. Check that the Precision is set consistently for each currency you plan to use.
   Note: When setting currency precision, be sure to set it correctly for all currencies you plan to use. This best practice ensures that decimal places are shown consistently in the UI for all the currencies you're using.
5. If you made any changes, save your work.

Overview of Defining Daily Currency Conversion Rates

You have a few options for defining daily currency conversion rates, and you can maintain daily currency conversion rates between any two currencies. You can also enter daily conversion rates for specific combinations of foreign currency, date, and conversion rate type. The ways you can load currency rates are:

• Load them manually using the Create Daily Rates spreadsheet.
• Load them automatically using web services.

For more information, see the related topics.