How to configure multi currencies in Zoho CRM
Introduction
If your business deals with customers or vendors across different countries, managing multiple currencies in your CRM becomes essential.
Zoho CRM offers multi-currency support, helping UK businesses handle international transactions easily. With this feature, you can manage deals, reports, and records in various currencies—making your global sales process seamless and accurate.
Step-by-Step Instructions
1. Who Can Set Up Multi-Currency?
Only admin users with the right permissions can enable and manage currencies in Zoho CRM.
2. Understand Currency Terms in Zoho CRM
When deleting a user, Zoho CRM gives you two options:
Before setup, get familiar with the basic terms:
- Home Currency: The main currency your company uses
- Active Currency: Currencies you currently use in deals or records.
- Inactive Currency: Currencies you no longer use, but are still stored.
- Exchange Rate: The value used to convert one currency into another.
- Record Currency: The specific currency used in a particular record.
Set Your Home Currency
- Go to Setup > General > Company Settings > Currencies.
- Click Change Home Currency if you want to update your base currency.
- Select a new currency and format.
- Confirm your choice — this step is irreversible.
Your currency format (symbol, decimal places, etc.) can be edited as needed.
4. Add Additional Currencies
- Navigate to Setup > General > Company Settings > Currencies.
- Click Add Currency.
- Choose a currency from the dropdown.
- Set: Symbol , Digit Separator , Decimal Places , Exchange Rate
- Click Save.
You can deactivate currencies but not delete them.
5. Manage Currency Status
Some data and references to the deleted user will remain in the system, even after deletion. Here’s what to expect:
- Go to Currencies, toggle status to inactive, and confirm.
To activate an inactive currency:
- Toggle status back to active.
Deactivated currencies cannot be used in new records but remain linked to existing ones.
6. Update Exchange Rates
To update the rate:
- Go to Currencies.
- Click on a currency name.
- Edit the Exchange Rate and click Save.
Updating the exchange rate will not affect existing records.
Using Multi-Currency in Zoho CRM
Once enabled, multiple currencies can be used in the following modules:
In Records
- Select a currency when creating leads, deals, or contacts.
- Amounts display both record currency and home currency in parentheses.
- Edit the Exchange Rate and click Save.
In Quotes, Invoices & Sales Orders
- Line items appear in home currency but are converted based on the selected currency.
In Reports & Dashboards
- Values are shown in home currency for consistency and clarity.
In List Views
- Currency-based filters only accept home currency values.
While Importing Records
- If currency isn’t mapped, home currency is used.
- Mismatched values default to home currency.
In Web Forms
- Add a currency field to let users select currency.
- Or, preset a currency via a hidden field.
During Lead Conversion
- The lead’s selected currency is carried over to new records (account, contact, deal).
Tips for Using Multi-Currency in Zoho CRM
- Choose the right home currency based on where your business primarily operates and reports finances.
- Keep exchange rates updated regularly to ensure accurate financial tracking.
- Deactivate currencies that you no longer use to keep your CRM organised.
- Communicate currency changes with your team—Zoho CRM automatically notifies admins when currencies are added or modified.
- Test currency setups in a few records before rolling out to all users, to ensure everything works as expected.
- Use clear naming conventions if working with similar currencies (e.g., USD vs. CAD) to avoid confusion.
