by Jackal Software

Automate your CRM Currency Administration Currency Controller updates currency exchange rates automatically. Background processes check for updates up to every hour so your system is as up to date as possible.

Cancel at any time!
Free Trial

#4241 - Is there any impact of exchange rate updates on historical data?

Open General Question created by Muhammad Fahad 4 months ago

Dear Jackal Software team,
Is there any impact of exchange rate updates on historical data when running reports? Please advise.

Thank you

  1. namcorp member avatar

    Jackal Software Provider Affiliate

    4 months ago

    Hello Muhammad,

    There is no impact from historical exchange rates on reports. However, as exchange rates are updated and records get re-saved with the new exchange rate the base rate conversion fields (stock or custom) will change with the new exchange rate. This update can impact reports but should reflect more accurate data.

    The plugin does not automatically conversion fields. Another process would need to handle those updates.

    Thank you very much

    • mfahad member avatar

      Muhammad Fahad

      4 months ago

      Thank you for the update.

      That means if my base currency is USD $ and if today I have an opportunity with an amount of 100 SGD, where 1 USD = 1SGD and opportunity is changed to closed won. Let's say in November 1USD = 2SGD then the same opportunity will show
      200SGD because of conversion update; right? please confirm.

      Thank you,

  2. namcorp member avatar

    Jackal Software Provider Affiliate

    4 months ago

    Hello Muhammad. I think you have the idea. However, if I’m not mistaken in your example it would be the USD field converted to 50.

    This is for the stock fields. I find organizations often create their own conversion fields with their own business logic. Not updating once an Opportunity is closed for example.

    Thanks again for your interest and I’d be happy to answer any other questions.

This case is public. Please leave out any sensitive information such as URLs, passwords, etc.
Saving Comment Saving Comment...
Rating

Keep up to date on the latest additions

We'll send you an email every month with handpicked add-ons, reviews, tricks and tips. Don't worry, we hate spam as much as you do.