Multi-currency setup is one-way; plan carefully before flipping the switch.
- Enable Multiple Currencies
Setup, Company Information, check Activate Multiple Currencies. The change is permanent.
- Set the corporate currency
Setup, Manage Currencies, set the org''s reporting currency (USD for US orgs, GBP for UK orgs).
- Add active currencies
Add every currency the org transacts in via Manage Currencies, using the ISO 4217 three-letter code.
- Enable Advanced Currency Management (optional)
Setup, Manage Currencies, enable Advanced Currency Management. This activates dated exchange rates.
- Configure exchange rate management
Update rates daily, weekly, or monthly. Most orgs integrate with a financial-data feed (Bloomberg, Reuters) for daily rates.
- Test multi-currency reporting
Build a cross-currency report grouping by CurrencyIsoCode and verify the conversion math produces the expected corporate-currency totals.
Gotchas
- Activating Multiple Currencies is one-way. Test in a sandbox first; production cannot revert.
- Dated Conversion Rates are an advanced feature that affects historical report values. Plan the cutover carefully if migrating from static rates.
- Integration data must agree on ISO codes. The most common bug is mismatched country codes between Salesforce and ERP; agree on the standard upfront.
- The Translation Workbench requires specific ISO language codes. Make sure target locales use the right en_GB-style format, not just en.