Setting up Currency and Exchange Rates Features in Foundations

To use Foundations currency and exchange rate features, you must have Salesforce multiple currencies functionality enabled in your org. See the Salesforce Help for more information about enabling multiple currencies functionality.

The following table describes the permissions required to use Foundations Currency and Exchange Rate features. Assign the relevant permission sets to the users who you want to use these features.

Before you can record exchange rates, you must activate the currencies that you want to use in Foundations. For more information, see Activating Currencies in Foundations.

Decide how to categorize the different areas of your org by creating an exchange rate group for each category. For example, you could create a separate group for each company or region in your org. Exchange rate groups enable you to store a default currency as well as the currencies that you want to record exchange rates for. For more information, see Creating Foundations Exchange Rate Groups.

Rate types in Foundations enable you to group and categorize different exchange rate values. For example, you could use one rate type as standard daily rate, another to represent rates at the end of a period, and another to represent an average rate during a specified period.

By default, Foundations provides a list of managed rate types, which you can use or customize. For more information, see Foundations Rate Types Overview.

When your groups have been set up, you can start entering rates for the appropriate rate types in each group. You can specify whether you want to create rates manually, automatically, or both. Rates can be valid for a specified day or period or open-ended to accommodate long-running periods with no defined end date. If you create rates without specifying an end date, Foundations automatically records an appropriate end date when another rate entry of the same type is recorded for the group.

For more information, see Creating Foundations Exchange Rates.

You can configure Foundations to import rates from an external rate provider. You can specify criteria for importing rates, and if required, you can manually edit any rates that you have imported.

The import process uses the Update Exchange Rates scheduled job. To access this scheduled job, you must enable the Scheduled Jobs feature in the Feature Console. If you have already enabled this feature in an earlier version of Foundations, you will not have access to the Update Exchange Rates scheduled job unless you disable and enable the Scheduled Jobs feature.

For more information about importing rates, see Importing Foundations Exchange Rates Overview and Setting up Your Org to Import Foundations Exchange Rates.