Lesson: 02 Corporate Currency

Notes

Corporate Currency in Salesforce is the default currency used for reporting and forecasting in an organization. It is the currency in which an organization's financial statements are prepared and the currency used for all standard currency fields in Salesforce, such as Currency fields on objects, opportunity amount fields, and forecast amounts.

When a Salesforce organization is created, the corporate currency is set based on the default currency for the country or region selected during setup. This currency can be changed at any time, but it will impact all data stored in Salesforce, including historical data.

Having a defined Corporate Currency helps standardize currency-related reporting and forecasting within an organization, especially when working with multiple currencies. It also allows for easier consolidation of financial information across different regions and countries.

By default, Salesforce organizations use a single currency. Once you set the required currency locale in your company settings, all currency values on records display in that currency. As the admin for your organization, you set that “corporate currency,” which reflects the currency of your corporate headquarters.

How to change the Corporate Currency?

From Setup, enter Company Information and click Company Information.
Click Currency Setup.
In the Active Currencies list, click Change Corporate.
Edit corporate currency dialog
Select your new corporate currency from the dropdown. Only currencies that have been added and are active are available.
Click Save.

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Lesson: 02 Corporate Currency

Notes

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Lesson: 02 Corporate Currency

Notes

Administrator Course