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Managing Multiple Currencies in Salesforce.com

Objectives for this Resource:

Currency locale is configured org-wide unless multiple currencies is enabled.  This setting determines the formatting of currency fields (e.g. currency symbol and related formatting), but does not impact the numeric values (in the example below, 500 USD becomes 500 GBP – the numeric value remains 500).

Notice the difference between English (United States) – USD and English (United Kingdom) – GBP.

Advanced Currency Management (ACM) enables administrators to configured dated exchange rates (e.g. use the exchange rate at the opportunity’s close date instead of a static rate).

ACM can only be enabled if multiple currencies is enabled.

When starting with a new Salesforce org, only one currency is enabled.

Multiple currencies can be enabled by contacting Salesforce, and allows for static conversion rates between currencies.

Locale: changes display of dates, times, numbers, names, and addresses.  Notice the difference in date formats between the US (MM/DD/YYY) and UK (DD/MM/YYYY).

Language: determines which language components (fields, setup menu, etc.) are displayed to the user.  Notice the difference between English and French.

Time zone: determines the offset used to display time references in Salesforce (similar to changing the time zone on your computer).

Currency: can only be selected when multiple currencies is enabled, and will determine the default currency for records created by this user.  If currency cannot be selected on the user record, then multiple currencies is not enabled and the organziation’s currency locale will be used to determine how currencies are displayed for all users.

This objective is referenced from module: User Setup
It is not included in this module for navigation or completion purposes.

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