Money for nothin' and chicks for free - Multi Currency
This question came in the other day, "Does Infuse support $US, $CDN, Euros? Or is this a question related to Solomon? We would like to enter quotes & orders in multiple currencies."
HERE WAS MY ANSWER: "First multi-currency is natively not supported by CRM so we can't really do that kind of conversion. With that said however, Infuse can be set to look at the Solomon currency conversion table and convert from the CRM currency to the Solomon Base currency. So in that case, we can support such a multi-currency configuration. CRM could be set in Pesos and Solomon set in Dollars.
Alternatively we could set up a Pick List in CRM that told us what currency the order is being take in. Then we translate that to the base currency in Solomon on Entry of the sales order. So the Conversion could be variable.
A cool Solomon feature is Multi Currency and it is my understanding that part of the customer set up in Solomon allows you to choose the "Target" currency the customer will want for submitting orders and receiving invoices. So, if the customer is set up in Euros, then an order is entered in Euros and they will get their invoice sent to them in Euros. Solomon converts the expressed values to the base currency for general ledger entries and inventory valuation. These conversions are all based on the Solomon currency conversion table.
A CRM order would not need translation if it was understood that the sales order and invoice is going to be expressed in the Currency set up in Solomon for that account. CRM would work just like Solomon, with the exception of the products that don't have conversions set up for the different currencies. Again one could customize the entry screen in CRM to convert the currency on the fly based on the Solomon Currency values.
There have been some discussions on this topic by
Arash: http://blogs.msdn.com/arash/archive/2006/02/01/521565.aspx
Phil Richardson: http://philiprichardson.spaces.msn.com/blog/cns!E1C114B0FC9B3FE!430.entry
But the issues is really a CRM one because basically in CRM there is only one currency.
HERE WAS MY ANSWER: "First multi-currency is natively not supported by CRM so we can't really do that kind of conversion. With that said however, Infuse can be set to look at the Solomon currency conversion table and convert from the CRM currency to the Solomon Base currency. So in that case, we can support such a multi-currency configuration. CRM could be set in Pesos and Solomon set in Dollars.
Alternatively we could set up a Pick List in CRM that told us what currency the order is being take in. Then we translate that to the base currency in Solomon on Entry of the sales order. So the Conversion could be variable.
A cool Solomon feature is Multi Currency and it is my understanding that part of the customer set up in Solomon allows you to choose the "Target" currency the customer will want for submitting orders and receiving invoices. So, if the customer is set up in Euros, then an order is entered in Euros and they will get their invoice sent to them in Euros. Solomon converts the expressed values to the base currency for general ledger entries and inventory valuation. These conversions are all based on the Solomon currency conversion table.
A CRM order would not need translation if it was understood that the sales order and invoice is going to be expressed in the Currency set up in Solomon for that account. CRM would work just like Solomon, with the exception of the products that don't have conversions set up for the different currencies. Again one could customize the entry screen in CRM to convert the currency on the fly based on the Solomon Currency values.
There have been some discussions on this topic by
Arash: http://blogs.msdn.com/arash/archive/2006/02/01/521565.aspx
Phil Richardson: http://philiprichardson.spaces.msn.com/blog/cns!E1C114B0FC9B3FE!430.entry
But the issues is really a CRM one because basically in CRM there is only one currency.
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