Setting up the default currency and exchange rates

Admin

The Default currency is used to calculate the Total amount for all CRM opportunities. This currency is also used to set prices in the Products & Services list. Read this tip and you'll find out how to change the default currency used in the CRM module and specify exchange rates for other available currencies.

Bare Bones Instructions

To select a default currency:

1. Enter your portal using your login details.
2. Go to the CRM module.
3. Click the Settings option at the left-side panel and choose the Currency settings section.
4. In the Default currency list, select the necessary currency.
5. Press the Save button.

Done! The default currency is now selected.

If you create invoices for customers from different countries, it will be necessary to specify exchange rates for some currencies that you use. To add the exchange rate for a currency:

1. Enter your portal using your login details.
2. Go to the CRM module.
3. Click the Settings option at the left-side panel and choose the Currency settings section.
4. In the Currency rate list, select the currency you want to set the exchange rate for.
5. Click the Add rate button next to the Currency rate list.
6. In the entry field that appears, type in the appropriate exchange rate (see the tips below to know where the actual exchange rate can be found).
7. Press the Save button.

That's it! The exchange rate for the selected currency is specified.

Helpful Hints

How to check the total amount of several CRM opportunities?

The total amount is calculated for the opportunities displayed on a single page. To find out the total amount of the selected opportunities, open the list of all opportunities. Use the Filter on the top to display the necessary opportunities only, e.g. opportunities assigned to a certain manager, or opportunities related to a selected contact, or opportunities for the specified time period. Click the Show total amount link below the list. In the Currency converter window that opens, you can see the total amount for these opportunities.

Statistics on the budget of the opportunities can also be obtained in the Reports section where you can generate reports with summary data for selected managers for the specified time period.

Where can I find the information about actual exchange rates?

Open the list of all opportunities and click the Show total amount link below the list. In the Currency convertor window that opens, switch to the Summary table tab that displays the exchange rates for all the currencies available in the currency list. The information is taken from the The Money Converter.com website.

How to convert a certain amount from one currency to another?

Open the list of all opportunities and click the Show total amount link below the list. In the Currency convertor window that opens, switch to the Calculator tab. Specify the necessary amount in the Enter amount field and select the currencies in the From and To lists. The result will be displayed below.

Can I set prices for some items in the 'Products and services' list in a currency that differs from the default one?

There is no such possibility. All prices in the 'Products and services' list are set in the default currency. But you can always select the necessary currency when creating an invoice for your customer - the prices specified in the invoice will be recalculated automatically according to the specified exchange rate.