Enable Multi-Currency

Overview

Accounting Seed's multi-currency functionality is an additional feature that must be enabled in your organization by Accounting Seed Support.  For details on cost, refer to Accounting Seed Pricing. Prior to enabling Accounting Seed multi-currency, Salesforce multi-currency must be enabled. Your System Administrator should enable multi-currency in your Salesforce org by performing the following steps.

Important: If you will be using Foreign Currency Translation, refer to the Foreign Currency Translation Configuration Setup article to view additional multi-currency related information. 

Enable Multi-Currency

1. Confirm Authority. Confirm the person requesting multi-currency has the appropriate authority to enable multi-currency and has considered the implications of enabling multi-currency. (Visit this Salesforce Help site to read about important considerations for enabling multi-currency.) 

Important: Once Accounting Seed multi-currency is activated, it CANNOT be deactivated. (We recommend testing this first in a trial/DEV org or a sandbox.)

2. To Enable Multi-Currency, click the Gear icon and select Setup. Enter Company Settings in the search textbox, and select Company Information.
3. Click Edit.
4. From Currency Settings, select the Activate Multiple Currencies checkbox. 
   
   Important: Once Accounting Seed multi-currency is activated, it CANNOT be deactivated. (We recommend testing this first in a trial/DEV org or a sandbox.)
   
   
5. Click Save. 
6. Enable Multi-Currency Settings. Ensure that your selected currency locale is the default currency that you want to use for current and future records.
7. Confirm that you have enabled Advanced Currency Management.
   1. Navigate to Setup | Company Settings | Manage Currencies.
   2. From Advanced Currency Management is enabled, click the button to Enable this option.

8. Confirm that you have disabled Parenthetical Currency Conversion.
   1. Navigate to Setup | Company Settings | Manage Currencies.
   2. From Parenthetical Currency Conversion is not enabled, click the button to Disable this option. 

Once this has been completed, your screen should look like the one below.

Note: Click here to view the above image in full screen. 

9. Enable Your Org. Submit a case with Accounting Seed Support through the Customer Support Portal to enable your organization for multi-currency within the Accounting Seed application.
   1. Set up your currencies and exchange rates in the dated exchange rates table (see Adding Currencies and Exchange Rates.). 
   2. Adjust page layouts to include multi-currency related fields. 
      
      
10. Adjust Page Layouts. After you have successfully enabled multi-currency, you will need to edit the page layouts for the Accounting Seed objects. Please refer to the table below.
    
    

    Object	Multi-Currency/Single Ledger	Multi-Currency/Multi Ledger
    Billing	Currency  Currency Conversion Rate  Ledger Amount	Currency  Currency Conversion Rate  Ledger Amount  Ledger
    Billing Line	No Change	No Change
    Cash Receipt	Currency  Currency Conversion Rate  Ledger Amount	Currency  Currency Conversion Rate  Ledger Amount  Ledger
    Purchase Order	Currency  Currency Conversion Rate  Ledger Amount  Initial Receive Date	Currency  Currency Conversion Rate  Ledger Amount  Ledger  Initial Receive Date
    Payable	Currency  Currency Conversion Rate  Ledger Amount	Currency  Currency Conversion Rate  Ledger Amount  Ledger
    Payable Line	No Change	No Change
    Cash Disbursement	Currency  Currency Conversion Rate  Ledger Amount	Currency  Currency Conversion Rate  Ledger Amount  Ledger
    Cash Disbursement Batch	Currency	Currency
    Journal Entry	Currency  Currency Conversion Rate	Currency  Ledger  Currency Conversion Rate
    Journal Entry Line	Currency  Ledger Amount	Currency  Ledger Amount
    Recurring Billing	Currency	Currency  Ledger
    Recurring Payable	Currency	Currency  Ledger
    Recurring Journal   Entry	Currency	Currency  Ledger
    Expense Report	Currency	Currency  Ledger
    Bank Deposit	Currency	Currency  Ledger  Ledger Amount
    Bank Reconciliation	Currency	Currency  Ledger
    Transaction	Currency  Currency Conversion Rate  Foreign Amount  Foreign Currency	Currency  Currency Conversion Rate  Foreign Amount  Foreign Currency  Ledger
    Amortization Entry	Currency  Currency Conversion Rate	Currency  Currency Conversion Rate  Ledger

To edit a page layout, from Accounting Home, click the Gear icon and select Setup | Object Manager. Navigate to the Object (first column of the table above) to be updated and select Page Layouts.

Below is an example of how the Billing page will look after adding the Multi-Currency fields (as shown in the table above).  


Note: Click here to view the above image in full screen. 

Below is an example of a Bank Reconciliation with the Currency field (as shown in the table above).

11. Realized gain or loss on the currency exchange adjustments to Page Layouts. In addition to the above changes, it could be beneficial to add Billing Cash Receipts record name to the Billings Applied Cash Receipts object and the Cash Receipt Object.

Important: With Multi-currency enabled in your org (organization), all currencies must be configured in the Global Picklist. For more information, refer to Update Global Picklist Value - Currency. 

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