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Integrate currency field

[Music] hello everyone my name is Shubham Kumar welcome back to my youtube channel says four scenarios today we will be discussing about the most important topic in Salesforce multi-currency an advanced currency so let's get started so guys the basic question and the starting will be what is multicolor and see in salesforce multi currency eliminates the men will work on converting or calculating the sales amount into local currency most of the organization can setup the ability to use multiple currency an opportunity forecast court hours reports and other data also for this the administrator also maintained the list of active currencies and their currency rates related to the corporate currency the active currency represents the current countries in which the organization does business only active currency can be used in currency amount fields so now next question will come that what are the considerations for enabling multiple currency in sells was first consideration is after an unable multiple currencies they cannot be disabled from your organization upon enablement existing records are stand with default currency code that you provide in your enablement requested let's say for this we'll be taking an example if your organization contains record using US dollars and euros with them all to the same default currencies before enablement but yes supports for this type of conversion is also available as as the Salesforce paid licenses implementation services we can be able to add the support for this after enablement the number of decimal places defined in a custom currency field is ignores instead set decimal places per currency through managed currency in setup the amount shown in the parentheses is the user personal default currency we are using the multi-currency when we are enabling the multiple currencies calculated based on the conversion rates and settings particularly we have conversion rate setting let's say how much US dollar will be converted in the euro euro will be converted into the US dollars like this will be having the currency rates to control whether the converted currency amount appears unable or disabled parentheses Karen C conversion from the managed currency page we can also control this type of starting from the managed currency page after an enablement the primary currency is displaced as usual an optional a secondary currency amount appears in parentheses one of the important consideration is that after enablement all currency will display the ISO code of the currency before the amount let's say in the same example I have mentioned that $100 displaces the u.s. 300 hundred euro will be displaces the EU are 100 like this will be having the ISO code for this M and one of the important nodes which I want to share is that if you have only one currency in your multi currency organization you can set a preference to display currency symbols instead of ISO codes to display currency symbols so it set up your user interface and then select show currency symbols instead of ISO codes in the currency display organization with the help of this you can able to achieve the simple using ISO codes you will be displaying the currency symbols for the same so now we jump into what is the advance currency in Salesforce what are the consideration and then we will be going to the business scenarios how to enable the multiple currencies and what is the business scenario so that we can be able to achieve with the help of multi currency an advance currency in Salesforce so now here comes what is advanced currency in Salesforce advanced currency management allow you to manage dated exchange rates with an opportunity is using Salesforce dated exchange rates allow you to map a conversion rate to a specific date range let's say one dollar will be equals to 75 rupees in India these type of currency rated exchange we can be able to set up in Salesforce data the exchange rates are defined using a start date and a conversion rate each rate is in effect until either the end of the time or day before the next start day for that currency the time between one started and the next start date is called the exchange rate date range these ranges can be as small as a day and a large as a time so that most of the time some currencies are fluctuating let's say 1 USD equals to 75 rupees and nowadays but maybe for different different months it will be fluctuating day by day day by day day by day for a month by one so that we can also set up that kind of functionality in Salesforce as well so let's go to the advance currency management consideration now here some of the considerations which by which I have taken from this documentation I will be also attaching that documentation link in the description box so you will be able to find and read all the consideration for the advance currency as well as the multiple currency management system in Salesforce so dated exchange rate are used for opportunities opportunity products opportunity production news campaign opportunity fees opportunity splits and reports related to these objects and feelings organization with advance currency management support roll-up summary fields between two advanced currency management objects campaign opportunity field use data exchange rates when calculating the amount in the campaign currency cross object formula fields also use the static conversion rate for currency conversion so with the help of advanced currency management what we can do is that we can be able to segregate that for this particular amount to this particular month we'll be having the conversion rate to this vary and for the next month to the another next month the conversion rate value will be this so that if our opportunity is closed in this particular month or another particular month according to that it will take the currency to that so that we cannot be having this let's say we'll be having the example for this current month again I will be taking the same example for this current one what we are doing is that when USD quest to 75 rupees right but maybe for upcoming month 1 USD equals 272 rupees now that type of fluctuation we can manage and sales force accordingly so now we will be working on the to business use cases first scenario is let's say Alex admin is the owner of an Indian company doing business with the us-based company whenever he is closing business with the us-based company it should be in the USD so how do we achieve this scenario we can achieve the first scenario with the help of enablement of multi currency Salesforce for the first scenario will be having the multi currency system now now I am jumping to the second scenario let's say US currency is fluctuating every month for this scenario what will be the workaround how to achieve this scenario with the help of advanced currency we can achieve this scenario now I will be jumping to my Salesforce hog yes so this is my Salesforce hog there what can we do is that so in quick fine box we can find the company information here is the company information now I'll be just on the added button there here is the option for this is the currency locale now my default currency locale is English India INR I will be activating the multiple currencies for my system let's say if I just activate the multiple currencies and hit on the Save button [Music] so my company information my currency setup management is enabled there so you are seeing that currency setup is there if I hit on the currency setup button so we will be working for the first scenario in which Alex admin is the owner of the big Indian company and he'll be selling most office products or most office content to the us-based company in the u.s. DS so how we can achieve this scenarios let's say for this what I will be doing we have enabled our currency system layer my default currency is INR I'll be creating one new currency there that is the USD because most of the sale I have to do in USD as Alex admin because I am Andean owner I will be selling my products to us-based company let's say US dollar is there what will be the currency rate itself we are putting two and again I will be managing the currency rate again first I will be going to change corporate I'll be changing this corporate to USD heading on the Save button now going to the audit rates again so my 1 USD is now zero point five five zero Indian rupees so I will be changing this to let's say for this month 75 1 USD equals to 75 Indian rupee heading on the Save button now for the testing purpose what I am doing I'll be moving to my opportunity creating going to the opportunity there from the plancha now creating the new opportunity whenever you have unable the multiple currencies let's say for opportunities or accounts or campaigns you are doing this multiple currency system you have enabled this opportunity currency automatically there so what I will be doing I will be just putting my opportunity name that's a big deal ooh [Music] us what will be the amount let's say just for example 5 USD what will be the close date close date I will be putting for today is there any opportunity currency will be in my us what is the stage stage is prospecting hitting on the Save button there I have created opportunity big deal to us going on the details option there the tail section so my opportunity in a name is big deal to us now this is my 5 USD so I've got this value that my 5 USD is equal to 4 INR currency it is 375 and this is the expected revenue rate that is calculated automatically so for the first missionary o I have achieved this that my opportunity currency is US dollar and how much US dollar will be the Indian rupees I myself sooner can be able to understand yes this this much amount of wealth business I have did with the big deal to us for this opportunity so again I will be moving to my set up for now we are jumping for the second scenario my second scenario is let's say US currency is fluctuating every month for this scenario what will be the workaround how to achieve this scenario so for this what we are doing is that going to manage currency here again what I have to do this is the advanced currency management is not enabled for that I have to enable the advanced currency management getting on this earth and I an able man button yes I want to enable at one currency management a neighborhood just moving on this advanced currency management page so what I have to do I have to manage date exchange rates putting on the manager date exchange rates don't want to show this page again getting on the continue button so what I can do is that you are able to see that exchange rate for all dates so I will be creating my new exchange rates let's let's say June earth to 7th July what will be the currency exchange rate X I will be putting this now right if I hit on the Save button my range will be changed so again moving to the opportunity now what I am doing for this opportunity close date is this so for June 6 June 8th to 7th of July will be having the currency rate now seventy right so I am be refreshing less once again and you got to know that amount will be automatically change for this scenario because for this part of death we have made the currency to seven going to the details page again now it is coming s 350 now and B just changing the close dead close dead let's say it's before it let's say 1 June wedding on the Save button so yes my amount for USD will be now change because for that I have previously put in the 75 1 USD equals to 75 Indian rupees now it is change automatically here so for now if I just doing the close date and changing the close date again to 9 getting on the Save button 9th of July hitting on the Save button now yes again my USD will be changed into the currency which I have putted there that is the dated currency for that now will be again moving to that so for the active currencies for 6th July 8th July sorry and after this will be having the currency rate of 70 exchange rate and now for the for this and after today whatever be our opportunity we are making then we can manage with the help of one who is equals to 75 INR so that in the sense we can manage different different months we can set up different different currencies here in the system according to the date exchange rates we can set here for achieving the second scenario for fluctuating the currency how that's we'll be able to having this right so now guys what what I am doing is that for this is the very important topic that you guys want to enable that this is the exchange rates dates we are having in Salesforce multiple currencies advanced currencies with the help of this we can manage every particular scenarios which I have shared with you most complex complex scenario also we can manage so thank you very much guys have a great day [Music]