Currencies

Posted on by Kim Hvidkjaer

This feature enables you to configure national and international currencies to help you in dealing business operations with your customers around the globe. You’ll be asked to select your base currency at your first login, in start up page. The base currency is the currency against which exchange rates are generally quoted in a given country. For instance, INR in India, and USD in USA. The foreign currencies you’d set up in your Simply CRM account will be converted according to the exchange rates of base currency.

Getting Started

You’ll need to configure base currency during your first login – in start up page

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Adding new currencies

Besides base currency which is automatically added, you can also add new foreign currencies in Simply CRM. While the exchange rate of base currency is set to 1, you’ll have to manually provide exchange rates for newly added currencies in accordance with your base currency.

Follow few simple steps to add new currencies

  1. Click Setting.png gear icon in the top right corner
  2. Click CRM Settings
  3. Click ‘Other Settings’ drop-down in the left
  4. Click Currencies. You can click on PinIcon.png pin icon next to it to add a shortcut to your settings home page
  5. Click Add Currency

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In the create view of new currency, you’ll need to fill up the following fields

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a. Currency Name Select desired currency from the drop-down
b. Currency Code The currency code of the selected currency is automatically populated
c. Symbol The symbol of selected currency is automatically populated
d. Conversion Rate Provide conversion rate of selected currency in accordance with your base currency. For instance, 1 USD = 54.89 INR
e. Status Enable the check-box to make currency active

Configuring desired currency

You can also manage reports and other inventory operations in an entirely different currency other than base currency. Simply CRM gives you the flexibility to switch to a different currency; as a result, all currency fields will be updated according to selected currency. It is simply that currency fields are converted according to base currency value.

Here’s an example

Check out the Amount field of an opportunity record in user 1’s account. USD is selected in Currency field in My Preferences.

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Check out the Amount field of same opportunity record in user 2’s record. INR is selected in Currency field in My Preferences

CurrenciesExample2.png

You can choose desired currency from My Preferences page; consequently, all currency values will be updated according to selected currency.

Follow few simple steps to configure desired currency

  1. Click on your user name in the top right corner
  2. Click My Preferences
  3. In the ‘Currency and Number Field Configuration’ block, locate Currency field and select desired currency

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4. Click Save

Modifying Product Price

Products are sold across different countries with different price tags i.e, if product of US is to be sold in India, price of that product may or may not be decided on the basis of conversion rates. Simply CRM gives you the flexibility to configure product prices manually or populate prices according to conversion rates.

Here’s how you do it

In the edit view or create view of desired product, click more currencies link under Unit Price field

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In the Product Price popup, you can see, values are all updated according to conversion rates. However, you can modify them and have custom values in place by entering desired price values under Price tab.

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Now when you select this product while generating Invoice, Sales Order, Purchase Order or Quotes, you’ll see the prices that are updated by you – not conversion rates

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