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Working with multiple currencies in CRM 2011

Post Author: Joe D365 |

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

Microsoft Dynamics CRM

 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.

Happy CRM'ing!

By Joe D365
Joe D365 is a Microsoft Dynamics 365 superhero who runs on pure Dynamics adrenaline. As the face of PowerObjects, Joe D365’s mission is to reveal innovative ways to use Dynamics 365 and bring the application to more businesses and organizations around the world.

One comment on “Working with multiple currencies in CRM 2011”

  1. JoeCRM, thanks for your post.
    "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".
    The only reason I have a price list is so that I can add a product. If I can't do that, then CRM does nothing for me from that standpoint. It is but a holding cell for my price lists & my conversion rates. It can't "handle" anything b/c I have to have all of the products my company sells in each price list. We should be able to cross product lists & acquire the prices associated w/ them regardless of currency. Or we should have the option to convert everything to the currency we need, regardless of which product/price list we use. We use CRM to better integrate all of our regions yet this part of CRM follows a "silo" mentality, which most organizations using the system are trying to break out of. I know you're not w/ Microsoft but this is just a frustrating and incomprehensible thing about CRM. It's as if it wasn't created w/ a salesperson operating in a global environment in mind.

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