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ArticlesSCM: Does Supply Chain Management Utilize Salesforce Global Advanced Currency Mode (Dated Exchange Rates)?

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SCM: Does Supply Chain Management Utilize Salesforce Global Advanced Currency Mode (Dated Exchange Rates)?

Supply Chain Management utilizes the Salesforce Global Currency Model. Converted monetary values are recorded in transactions, but the specific conversion rate at the time of the transaction is not stored. Reports will use Dated Exchange Rates for standard objects but not for custom objects. Custom solutions, such as creating a custom field and a flow, can be implemented to capture the exchange rate at the time of a transaction.

  • Sep 18, 2023
  • Knowledge

Title
SCM: Does Supply Chain Management Utilize Salesforce Global Advanced Currency Mode (Dated Exchange Rates)?
URL Name
SCM-Does-SCM-Utilize-Salesforce-Global-Advanced-Currency-Mode-Dated-Exchange-Rates

Question
  • Does Supply Chain Management utilize Salesforce Global Advanced Currency Mode, also called Dated Exchange Rates? 
Answer
 
  • Supply Chain Management utilizes the Salesforce Global Currency Model
    • The converted monetary values are written into the transactions; however, the current conversion rate in effect is not recorded 
    • Any currency type field will have converted fields created in reports 
    • Converted fields in reports will use Dated Exchange Rates for only standard objects but not for custom objects
    • The following objects are using Advanced Currency Management:

      AP Voucher, Inventory Financial Transaction Records, Inventory Position, Purchase Order, Purchase Order Line, Rebate Applied, Sales Order, Customer Return Line, Quote, Quote Line
  • This is the Salesforce platform setup (only on a multi-currency org)
  1. Set Use_Salesforce_Advanced_Multi_Currency Config Option to "True"
  2. Set Use_Dated_Exchange_Rates Config Option to "True"
  3. Turn on Salesforce Advanced Currency Management
  4. Turn on/setup Dated Exchange Rates
Additional Notes
  • In a report's column Ext. Price (converted):
    • It seems that this field will always use the global static exchange rate that was entered in Salesforce
    • Even when the Advanced Currency mode is turned on, note that the sales order object will only look at the static exchange rate and not at any dated exchange rates
  • See Salesforce article: About Advanced Currency Management
    • Excerpt: Dated exchange rates are used for Opportunities, Opportunity Products, Opportunity Product Schedules, Campaign Opportunity fields, Opportunity Splits, and reports related to these objects and fields. Dated exchange rates are not used in forecasting, currency fields in other objects, or currency fields in other types of reports 
  • In regards to whether Supply Chain Management will support any kind of dated exchange rates in the future, the options would be:
  1. To create an Idea OR,
  2. Create a custom field and a flow that would populate the ex-rate at the time of the transaction
  3. Another option may be to record the values of the from/to monies and have a formula field to generate the exchange rate at that time
Release Version
Customer Success CloudFinancial Management CloudProfessional Services Cloud
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Knowledge:SCM: Does Supply Chain Management Utilize Salesforce Global Advanced Currency Mode (Dated Exchange Rates)?