Multiple currencies | Online Help - Bigin by Zoho CRM

Multicurrency

Multi-currency eliminates the manual work of converting your home currency into the respective local currency value. Let's assume your company has a global presence handling business transactions in multiple countries. It gets challenging to calculate the deal amount manually in both the customer's local currency and the currency you operate with for every deal. To eliminate such complex operations and make these estimates readily available, Bigin has a Multi-currency feature that converts any currency field value to the local currency of the desired country based on the current exchange rate.
Availability

Permission Required
Users with the Administrator profile can set up this feature.

Important terms 

Home Currency
This is the currency used by your organization for its business transactions. For instance, if your company's headquarters is in the US and it has offices all over the world like China, Singapore, France, and New Zealand then the financial figures of your company will be expressed in terms of US Dollars. In this case, your Home Currency is US dollars.

Exchange Rates
This is the rate at which one currency can be exchanged for another. In your Bigin account the exchange rate is automatically captured based on the day's currency exchange value.

Note:
  1. Once activated, this feature cannot be deactivated.
  2. The Administrator can add multiple currencies.
  3. You cannot mass update the record's currency (i.e. Currency field) for the records.

Updating home currency 

  1. Go to Settings > Organization > Currencies tab.
  2. Click the New Currency button.

  3. Select the required Home Currency from the drop-down list.
After updating the home currency, the administrator can add other currencies that company uses for business. Other users will then be able to select these currencies to use them as a record's currency while creating deals, contacts, companies, and more.
The home currency cannot be changed after you have added the second currency. If you want to change your home currency after adding the second currency, please write to support@bigin.com

Adding a currency 

  1. Click the New Currency button to add other currencies used by your organization.
  2. Specify the details, such as Symbol, Thousand Separator, Decimal Places, and Decimal Separator.
  3. Click Save.

Deactivating a currency 

When your organization no longer uses a currency for business, you can deactivate it from your Bigin account. Upon deactivating a currency:
  1. The currency will not be deleted, as you can only deactivate them.
  2. New records cannot be created using the deactivated currency. However, you may have existing records that use the deactivated currency.
  3. The deactivated currency will be available under the list of currencies you have added.
To deactivate a currency
  1. Go to Settings > Organization > Currencies tab.
  2. Toggle the Status button to inactive state on the currency that the organization no longer uses.

Re-activating a currency   

You can activate the inactive currencies added in your Bigin account whenever you want. Note that only 10 currencies can be active in your company's Bigin account at a time.
To activate currencies:
  1. Go to Settings > Organization > Currencies tab.
  2. Toggle the Status button on the currency that you want to activate.

Multiple Currencies in Bigin

Before you start using this feature, the Administrator in your organization's Bigin account needs to add the Home Currency and other currencies. Only then can other profile users can start using the currencies in creating records.

Multi-currency in records

You can select the desired currency from the list of active currencies for modules that have the currency field. All the currency fields in a record will have the value in the record's currency, followed by the amount in Home Currency in parentheses.
 
To specify a record's currency
  1. Go to the desired module > Create a new record or edit an existing record.
  2. Select the record's Currency from the drop-down list.
    Only active currencies will be listed in the drop-down field.
  3. Click Save.
    The currency field will show the value in the specified currency followed by the value in Home Currency in parentheses.

Multi-currency in Import   

You can import records with multi-currency values.
  1. When a record's Currency field is not mapped, then the Home Currency will be set as the currency for that record.
  2. When a record's Currency field is mapped, but if the currency in the imported file is not available in Bigin, then the Home Currency will be set as the Currency for that record.

Multi-currency in Find and Merge   

When there are two or more records with different Currency fields, you can use the Find and Merge feature to eliminate the duplicates. The Master record's Exchange Rate and Currency field values will be taken and the selected amount from other records will be converted accordingly to be merged as one record.

Multi-currency in Webform   

There are two cases for using the Currency field in your web form:
You create a web form with the Currency field: The visitor, completing the form, will select the currency and specify the amount and the same will be added in Bigin.

You create a web form with the Currency field but hide the currency field:

For example, you generate a web form with a hidden field, Currency, whose value is specified as EUR. When the form is published and a visitor fills the form, the amount will be considered as EUR and will be added in Bigin.
 
Note: If the Currency field is not added in the web form, the amount will be considered in Home Currency.

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