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Helper III
Helper III

Entity and Multi Currency Fields

Hi,

 

I have created 3 currency fields for one of my entities (field1, field2, field3).

In my environment Settings, 4 currencies have been added (Euro, Dollar, Sterling, CHF)

 

Is that possible to create 3 records for this entity with :

- First Record : field1 denominated in euro, field2 denominated in dollar, field3 denominated in dollar

- Second Record : field1 denominated in Sterling, field2 denominated in CHF, field3 denominated in Euro

- Third Record : field1 denominated in Euro, field2 denominated in Euro, field3 denominated in Euro

 

How can I do that ?

 

Thanks

1 ACCEPTED SOLUTION

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Super User
Super User

Re: Entity and Multi Currency Fields

tl;dr: you don't need to do that because there is a base money value for every money field in the base currency.

 

Every money field stores data in two fields--the currency field and the base currency field.

when you put a value in the money field (think estimated revenue), it is translated to the base currency in the base field based on the exchange rates you have populated on the currency record.

 

There is also a currency lookup on the record that has a money field on it--this defaults to whatever the default currency of the user is.

 

You cannot have different currencies on the same record--they all use the specified record currency.

 

Note--you can use the base currency to your favor here--using base currency you can derive what the value is in any currency by multiplying it by the exchange rate.

 

that's why if you ever do any reporting, charts, etc, you want to use base currency so you don't add different currency values together.

 

Also, it is up to you to update your exchange rates, the system doesn't update them automatically.

I wrote this guide 6 years ago, it is still accurate: https://www.crmsoftwareblog.com/2014/03/dynamics-crm-multiple-currencies/

View solution in original post

2 REPLIES 2
Highlighted
Super User
Super User

Re: Entity and Multi Currency Fields

tl;dr: you don't need to do that because there is a base money value for every money field in the base currency.

 

Every money field stores data in two fields--the currency field and the base currency field.

when you put a value in the money field (think estimated revenue), it is translated to the base currency in the base field based on the exchange rates you have populated on the currency record.

 

There is also a currency lookup on the record that has a money field on it--this defaults to whatever the default currency of the user is.

 

You cannot have different currencies on the same record--they all use the specified record currency.

 

Note--you can use the base currency to your favor here--using base currency you can derive what the value is in any currency by multiplying it by the exchange rate.

 

that's why if you ever do any reporting, charts, etc, you want to use base currency so you don't add different currency values together.

 

Also, it is up to you to update your exchange rates, the system doesn't update them automatically.

I wrote this guide 6 years ago, it is still accurate: https://www.crmsoftwareblog.com/2014/03/dynamics-crm-multiple-currencies/

View solution in original post

Highlighted
Helper III
Helper III

Re: Entity and Multi Currency Fields

Thanks a lot for your help.

 

Regards,

 

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