Designate Reporting And Functional Currencies
You can configure your org’s Reporting Currency and Functional Currencies from your Business Group and Store records, respectively. Reporting Currency is the currency you use to pay taxes and for other reporting purposes for your Business Group. Functional Currency is the Currency your customers select in the Community Portal to view prices.
You will designate from the currencies you configured in previous steps one Reporting Currency and one or more Functional Currencies.
Set Up Reporting Currency
As mentioned previously, Reporting Currency is used for tax and reporting purposes. It is also the currency used for Reporting Objects. On the backend in Staff View, it is the default currency when creating Items, Sales Orders, Price Rules, and other areas dealing with finances. It will also be the default currency your Community Portal displays until a customer changes the currency. You will set your Reporting Currency on your Business Group record.
If you are using multiple Business Groups, you can set a different Reporting Currency for each Business Group per your organization’s needs.
You will be unable to switch your Business Group’s Reporting Currency after related records (Items, Sales Orders, Transactions) have been created using the selected currency. Please select your currency carefully.
Configure Reporting Currency:
From your Business Group record, click Edit. The Edit window will open.
Locate and click the Currency field. A picklist of currencies will open.
All of the currencies you configured previously are available in this picklist. Select the currency you wish to be your Reporting Currency.
Only the currencies in both the Currency Conversion Table and the Active Currencies table will display in this picklist. If a currency is missing, make sure it is present in both tables.
Your selected currency will now serve as your Reporting Currency.
Set Up Functional Currency:
After selecting your Reporting Currency for your Business Group, it’s time to set up your Functional Currencies. These will be the currencies your customers can choose from in the Community Portal using the Currency Picker and when your staff create Sales Orders in your org. You can also choose from these currencies in the Price Rule Builder under Manage Currencies to round converted prices. You will set your Functional Currencies on your Store record.
Configure Functional Currency
From your Store record, click Edit. The Edit window will open.
Click the Fonteva Supported Currencies CSV field and enter the ISO code for your desired currencies separated by commas.
You will receive a warning if you attempt to save with currencies not enabled in both the Currency Conversion Table and the Active Currencies table. Make sure the currencies you choose are in both tables and that the ISO codes are spelled correctly.
Your Functional Currencies are now set. The Currency Picker will now display in your Community Portal in the Navigation bar. Your customers can pick and choose which currency they would like to use in the Community Portal.
Now that your currencies are completely configured and you’ve designated your Reporting and Functional Currencies, you can start utilizing Multi-Currency in your org. Here are a couple of places you can get started:
Multi-Currency In The Staff View: Learn to manage currencies in Price Rules, understand new Sales Order behaviors, get acquainted with new Reporting Objects, and start changing currencies in Rapid Order Entry and the Order Summary Builder.
Multi-Currency In The Community Portal: Learn how to change the currency in the Community Portal and in Order Summary Builder on the Profile page.