The multi-currency support in Zoho CRM helps you to handle business transactions in the global marketplace easily. If you regularly deal with international clients and vendors, then Multi-Currency will facilitate international buying and selling. With Multi-Currency support in Zoho CRM, you can:
- Estimate the value of an opportunity using the currency you deal in and also in the customer's local currency.
- Generate and view reports in your organization's currency.
- Import a single file that contains data with values in multiple currencies.
Points to Remember
- When a user transitions from a paid edition to a trial edition, they can utilize currencies up to the limits of their original paid edition without disabling any added currencies. However, upon moving to an edition with lower limits, the constraints of the lower edition will apply, potentially preventing the addition or activation of currencies if the limit is exceeded.
- The free edition does not support multiple currencies. Downgrading to the free edition results in the deactivation of all previously added currencies. Upon upgrading to a higher edition, users must manually activate currencies to resume their use.
- Improved customer experience: Customers can make payments in their preferred currency, which enhances their experience and boosts customer satisfaction.
- Increased sales: By enabling customers to make purchases in their local currency, businesses can expand their reach and gain new customers, resulting in increased sales and revenue.
- Global reach: Businesses can expand their operations globally, allowing them to sell products or services to customers in different currencies. Accepting payments in multiple currencies removes barriers to entry and enables businesses to tap into new markets.
- Accurate pricing: Ensures that pricing is accurate and consistent across different currencies, preventing confusion and errors in pricing that can negatively impact sales.
- Currency conversion: Automatically converts currencies, making it easy for businesses to manage payments without having to convert currencies manually or use a third-party tool.
Profile-based permissions
Choose Home Currency and Add Multiple Currencies
- Go to Setup > General > Company Settings.
- In the Company Settings page, go to the Currencies tab.
Note: This Home Currency value is the option you choose in "Currency locale" during the initial CRM setup. - Do one of the following:
- Click Change Home Currency if you want to change the currency which you had initially set during CRM setup.
- Change the currency and its format.
Note: Once you change the home currency by choosing a currency from the dropdown, an alert message will appear to remind you that the home currency cannot be changed further, and the currency code will be applied to all existing records and the values will remain unchanged. - Click Yes, Confirm Home Currency to proceed with the change.
- Click Confirm Home Currency if you want to continue using the same home currency.
Note: Based on the currency that you select, the currency Format will be populated. - If required, click Edit to change the following:
- Select the Code/Symbol from the drop-down list.
- Select the Digit Separator from the drop-down list.\
- Select the Decimal Places from the drop-down list.
- Click Save.
Add Multiple Currencies
- The Currency field will be available in the records only if a currency is added.
- The system-defined fields - Currency and Exchange rate can be removed from the layout if there are no Currency type fields in the layout. At any point if a Currency type field is added to the layout, automatically the system-defined fields - Currency and Exchange rate will be added.
- Go to Setup > General > Company Settings > Currencies.
- Click the Add Currency button.
Note:
On adding a new currency:
- You cannot delete the currency; you can only deactivate the currency.
- The Currency and Exchange Rate fields will be added to the module.
- Reports may not work properly if currency fields from different modules are used to compare values in filters. - In the Add Currency pop-up box, do the following:
- Select a Currency from the drop-down list that will be the newly added currency.
- Click Yes, Continue to continue adding the currency.
- Select the Symbol, Digit Separator, and Decimal Places from the respective drop-downs.
- Enter the Exchange Rate for the currency that you are adding and click Save.
- You cannot deactivate this multi-currency feature.
- All the users with administrator profile will receive an email, informing them that the multi-currency feature is activated in the organization's CRM account.
- The exchange rates for the existing records will be set as 1.
Active and Inactive currencies
Currency details and logs
- Home currency confirmation
- Symbol changes
- Digit separator changes
- Decimal places changes
- Exchange rate changes
- Currency activation and deactivation
Edit the Exchange Rate
- Go to Setup > General > Company Settings > Currencies.
- Click on the currency for which you want to change the exchange rate.
- In the Edit <<Currency>> pop-up, modify the Exchange Rate for the currency.
- Click Save.
Deactivate Currency
- The currency will not be deleted as you can only deactivate them.
- New records cannot be created using the deactivated currency. However, you may be having existing records that use the deactivated currency.
- The deactivated currency will be available under the list of currencies you have added.
- Go to Setup > General > Company Settings > Currencies.
- Toggle the Status button to inactive state on the currency that the organization no longer uses.
- Click Yes, Deactivate.
- A notification confirming successful deactivation is displayed.
Activate Currency
- Go to Setup > Organization Settings > Company Settings > Currencies.
- Toggle the Status button on the currency that you want to activate.
Impact Areas | When a currency is deactivated |
New record creation | Displays a validation error requesting the user to choose an active currency. |
User preferred currency | Reverts to the home currency |
Portal-user preferred currency | Reverts to the home currency |
Create record actions in Workflow Rules and CommandCenter | Reverts to the home currency and the currency field values are also converted. |
Record conversion | Records that are converted with inactive currencies will be replaced with the home currency and the currency field values will also be converted based on the exchange rate. During deal creation, a validation error will be shown requesting the user to choose an active currency if the currency field is present in the form; otherwise, the deal will be created with the home currency. |