Every so often we get questions regarding multiple currencies in CRM 2011. So, here are a few items to keep in mind when preparing for Multi-currency implementation, or preparing Microsoft Dynamics CRM 2011 to properly handle multiple currencies.
1. Each Price list can only have one Currency, so each price list will need to be duplicated with the new currency and the Product pricing.
2. Remember: The currency field and the Price List fields are commonly hidden or moved to the bottom of the Entity form when a single currency and price list are used. These fields will play a more prominent role when using multiple currencies and may need to be displayed in a more accessible area of the form.
3. The Currency and Price List fields are not dependent on each other – out of the box. (Example: It is possible to select one Currency then select a Price list for another currency) — You won’t see any problems until you try to add a Product from the product catalog, at which time you will get an error message stating the selected Currency and Price list currency do not match – OPTION: Modify the Price List Lookup to only allow Price Lists for the selected currency. Note: Entities possibly effected: Accounts, Contacts, Opportunities, Quotes, Orders and Invoices
4. Maintain the Exchange rate in Settings > Business Management > Currencies
5. On Premise or Hosted CRM Implementations may need to insure additional language packs will not be needed. Note: This is not something that is necessarily “Required” if all users will use the default language. However, it is common for additional language packs to be needed if your company is expanding into new markets, where the new currencies will be needed and the users are setting different default languages.
At PowerObjects, all we do is Microsoft Dynamics CRM. If you need help with your implamentation, our CRM Experts work are skilled at working with any size organization. Feel free to reach out.