Sunday, 8 April 2018

PRODUCT DEFAULT CURRENCY IN DYNAMICS 365

Hi Everyone

As  part of my preparation for the MB2-717  Microsoft Dynamics 365 for sales certification.

Today i am going to explain how the default currency works in Dynamics 365.

In Dynamics 365 there is system currency and custom currency:

Product Currency Configuration
- Ability to add new currencies
  -System
  -Custom

- Set a default currency
  - Not required but extremely important
  - Able to set a specific currency for your customer

- Precision number can be set

- Exchange rates must be manually managed
   - Exchange rates don;t automatically update for reporting purposes
   - Base currency amounts and exchange rate on existing records remains
      the same, only new records are affected by the new rate

Let's see with an example how this works..

Open an account record in Dynamics 365 and inside the account record,


Click on the recent opportunities subgrid and create a new opportunity, check the currency for that opportunity, its CADDOLLAR.


Now click on the settings icon on the right side of the  web page and you will be prompted with the settings > click on the options by default the currency will be the base currency, you can change to the different currency "AUDDollar"and all the "opportunity, quote, order , invoice" will only be i.e "AUDDollar".


Now create new opportunity for the "Fabricam" account then the currency will be automatically set to be a "AUDDollar" only.


So if you scroll down to the Product line items then there is no price list items, why because we have changed the default currency to "AUDDollar" and the price lists are relay on the currencies. The only we can use "AUDDollars" is we need to associate the price lists with "AUDDollar" currency.

Always remember when working with multiple currencies and multiple price lists and even multiple discounts, some form of planning should be necessary when creating the price lists.



Create a new price list the default currency will be "AUDDollar" Currency, as we have changed the default currency to "AUDDollar". then scroll down to see the price list item  subgrid and click on the + symbol and create thge price list item as you can see on the below image the currency will be the "AUDDollar"  and select the Product from the lookup, unit , Amount  save and close.



Go back to the opportunity "Need some Pendrive" and add product line item. you can also add products to it.



So when working with multiple currencies and multiple price lists , it is very tricky but it does allow you to maintain your customers who might span across the world.

I hope this helps..

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