Salesforce Organization Administration

Company profile contains:

  • Language, locale and time zone
  • Licenses
  • Storage and uses space
  • Fiscal Year
  • Primary contact and address information
  • Manage currencies

Localization fields are:

  • Default Language
  • Default Locale
  • Default Time Zone

Currencies are:

Global companies may have multiple active currencies.

Currencies can be defined at following levels:

  • Organization profile
  • User record (Personal Setup)
  • Opportunity (Record)

Currency is a required field on all objects in Salesforce and must be considered during importing and custom object creation

Multi-currency is a feature that must be requested. International organizations can use multiple currencies in:

  • opportunities
  • forecasts
  • reports

Changing the conversion rate will update all existing records with the new conversion rate, even closer opportunities. You cannot track revenue gain or loss based on currency fluctuations unless implemented Historical Currency Exchange Rates.

Updating the conversion rates will not change original opportunity amounts only converted amounts.

Accounts and their associated contacts must use the same default currency. Account and contact record may be imported using active or inactive currencies.

Advance currency management (ACM) –  for orgs that use multi-currencies: allows opportunity amounts in a foreign currency to be converted into Corporate Currency based on an exchange rate effective at the time of the opportunity close date. Used in:

  • Opportunities
  • Opportunity products
  • Opportunity reports

ACM Eliminate the inaccuracy that exist when converting opportunity amounts in a foreign currency into corporate currency on basis of single exchange rate per currency at any given time.

Once ACM is activated the Administrator may:

  • Create a new exchange currency
  • Edit exchange rates
  • Delete exchange rates

Fiscal Year – used for an organizations fiscal planning. Usually a year in length – impacts forecasts, quotas and reports.

Salesforce allows two types of fiscal years:

1. Standard – follow Gregorian Calender

2. Custom – follow custom structure

  • Forecasting can not use Custom Fiscal Year
  • Customized forecasting must be enabled for use with Custom Fiscal Year

Custom Fiscal Year – Flexibly define fiscal year and other time periods, Define once and use everywhere, pre-defined commonly used financial year structures.

Best Practice for custom fiscal year – define your custom year after your current forecast. Also update product schedules and forecasts whenever a custom fiscal year is created or changed.

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