CRM for Distribution: Multi-Currency Support

Many more companies are buying and selling globally nowadays. In the next five to six years global eCommerce sales will almost double what they were just a year ago. Beringer has recognized this trend and added multi currency support in the latest CRM for Distribution update.

If your ERP system is already setup to allow for multiple currencies, then all you have to do is make sure that those same currencies are setup in your Dynamics 365 system. The latest updates to DataSyncCloud will handle the rest.

Currencies in Dynamics 365

In Dynamics 365, under Business Management, you can setup as many Currency records as you need to support your system. You are able to set the Currency Code, the Currency Symbol, the Exchange Rate, and the Currency (Decimal) Precision for each record. There are even ways to communicate with an external service to update the exchange rate automatically.

You set your default, or base currency when your Dynamics 365 organization is established. Once your system is setup, you cannot change your base currency, but you can change the Currency on your Business Unit(s). Your users also have the ability to change their default currency in their personal settings.

Viewing Data in Dynamics 365

Any Currency field in Dynamics 365 on any record is always stored in the base currency. Matter-a-fact, when you create views, you have the option to use the regular field or the base field. The regular field will show you the currency amount for that particular record whereas the base field will show you the currency in the base currency format.

This is useful and notable because if you are creating a view to look at Cost to Serve and you want to look at comparisons between Accounts, you can add the Cost to Serve base amounts to your view so that you are comparing costs in the same currency. On the Account form however, you can show the Cost to Serve amounts using the regular field. This will allow users to see the cost amounts in the currency for the Account.

CRM for Distribution

CRM for Distribution is a very powerful tool for manufacturers and distributors. It is easily installed into your current Dynamics 365 instance. Your users don’t have to navigate to a different program to use the added features that CRM for Distribution provides. Everything resides directly within Dynamics 365 in entities that your users are already familiar with and use on a daily basis.

Contact Us!

If you’re interested in learning more about CRM for Distribution, please contact us today!

Beringer Technology Group, a leading Microsoft Gold Certified Partner specializing in Microsoft Dynamics 365 and CRM for Distribution. We also provide expert Managed IT ServicesBackup and Disaster RecoveryCloud Based Computing and Unified Communication Solutions.