From http://wiki.vtiger.com/archives

About

Multi-Currency Support is a feature which supports the usage of multiple currencies in Products, Price Books and other Inventory modules.

Current Working Model

All currency input for Product, Pricebook or any other inventory module are taken in the currency of the logged in user's preferred currency. The currency value is converted to base currency of the CRM and stored. So basically base currency of the CRM is used as the reference for any Currency value and all conversions with respect to the User are based on this.

New Working Model

In Products module, User will be provided with an option to choose any one of the existing currency as base currency and also be able to define the values for the same product in other currencies, which may not be the same as the converted value from the base currency. In Invoice/Quotes/SO/PO modules, User can choose a currency for each Invoice/Quotes/SO/PO and all the products of that i Invoice/Quotes/SO/PO will stick to that currency. The price values for all the products of that Invoice/Quotes/SO/PO will be the value specific to the chosen currency. In Price Book module, User can define each pricebook to be binded with one specific currency. The prices of all the products in that price book will be the value specific to the chosen currency.

Multi Currency Support in Products

When you create a product, next to the input box for Unit price you can find a link called 'more currencies'. This link will let you set the different prices for the product in different currencies and set one of the currency as the base currency for the product.

1. List View of products will show the price in the base currency of the product with currency symbol as prefix.

2. Detail View and Edit View of a product will show the Unit price in the base currency of the product. Clicking on 'more currencies' link, will show the price of the product set in different currencies. ( Note: 'More Currencies' link will not be shown in the detail view, if the product price is not set for more then one currency )

3. No Ajax Edit is available for editing multiple currencies. But Unit price can be edited through Ajax Edit. 4. Quick Create of Products will not have an option to add multiple currencies. Once a product is created through quick create, multiple currencies can be added to it through Edit View of the product.

Product Create View

1. All the currency conversions will be based on the Base Currency. If the Base Currency is changed, then the new base currency will come into affect only from the next edit of the product and not in the current editing of the product. ( Old base currency will still remain as the base for conversions for current editing)

2. When a particular currency is checked to override the existing converted value, the input box will be filled with the converted price of the current base currency. This value can be changed and will be in affect unless until the currency is unchecked.

3. Clicking on 'Reset Price' will reset the currency value to the converted price from the base currency.

Multi Currency in Product Create/Edit View

Multi Currency in Product Detail View

Multi Currency Support in Price Book

Price Book are now associated with a particular currency. So when creating a price book, we need to choose the currency on which the price book will be built. Prices for all the products in that price book will be based on the chosen currency. List prices for the products are updated with their unit price whenever there is a change in the price book currency.

Price Book Create View

List Price for Price Book based on Price Book Currency

Multi Currency Support in Inventory Modules

When creating an Invoice/Quotes/SO/PO, a new picklist field is provided wherein the user can select the currency based on which the Invoice/Quotes/SO/PO has to be generated. Currency can be changed at any point of time (as long as the user has the Edit permission for the inventory) to generate the Invoice/Quotes/SO/PO in preferred currency. Every time the currency is changed, the price for all the products of the Invoice/Quotes/SO/PO are filled with the unit price of the product in the chosen currency (This will not consider the price book from which the currency was chosen previously) When the user clicks on Price book icon for a particular product (previously all price books that had the product in it were shown), only those price books for which the product is added and the price book currency is same as the currency chosen by the user for the Invoice/Quotes/SO/PO, are shown. If the product is not in a particular price book or if the price book currency is not same as the currency chosen for the inventory item, then the price book is not listed. On selecting the price book link from the price books list, the value for the product is returned in the same currency as chosen for the Invoice/Quotes/SO/PO.

1. Tax value will change with change in the currency and the products.

2. Discount value will change only if the discount is mentioned in %. If direct value is given for deduction, then it will be reset to 0 with change in the currency. (Discount value will have to be manually updated in that case)

3. 'Shipping & Handling charges' and 'Adjustment' values will be reset to 0 with change in currency as they are direct values. So manual updating of these values are required with change in currency.

The generated pdf for the Invoice/Quotes/SO/PO will also have the price values in the same currency as the Invoice/Quotes/SO/PO irrespective of the currency set by the User in 'My Preferences'.

Multi Currency Support in Reports Module

1. When reports are created with Product module or Invoice/Quotes/SO/PO module, and if any of the chosen column has support for multiple currencies, then the value for that column will be shown in the 'base currency of the product' – for Products module and 'chosen currency for the Invoice/Quotes/SO/PO' – for any of the other modules like Invoice/Quotes/SO/PO with currency symbol as prefix.

2. Aggregate functions in Inventory modules for the columns that has support for multiple currencies, will be computed based on the User preferred currency and the User preferred currency symbol will be shown in the header of the column.

Affects of Deleting an Existing Currency or Marking it as Inactive

When a existing currency is deleted or marked as inactive, the user is forced to move all the references to some other currency.

1. All the Products and the associated Unit Price will be updated with the new currency.

2. All the Price Books will be updated with the new currency.

3. Price for all the Products associated with a Price Book will also be updated with their list price based on the new currency

4. Invoice/Quotes/SO/PO will still retain the old currency. The old currency will still be displayed and the prices for all the products will also be still with reference to the old currency. The generated pdf will also give the results in the same old currency. But if the User tries to Edit this inventory item, then will be forced to choose a different currency as the old currency will no more be available for fresh use.