Setting Up Multicurrency in Conga Platform - Best Practices
- Use Currency-Specific Price Lists:
- Always create currency-specific price lists for each currency you support. This ensures that price conversions are accurate and that users see prices in their local currency.
- Clone your master price list, name the new price list appropriately, and select the target currency. Make sure to set the Base Price List field so the system knows which price list to use for conversion.
- If you have default price lists for Quote/Proposal records created on an Opportunity based on the Opportunity currency, update any Currency-Price List mappings used for this functionality.
- Managing Exchange Rates: Use dated exchange rates to handle currency fluctuations over time. This allows you to set conversion rates that are effective for specific periods.
- Master and Derived Price Lists: Set up a master price list in your corporate currency, then create derived price lists for other currencies using the Based On Price List field. This is not required for new PLI's.
- Cart and Transaction Behavior:
- When configuring products, the cart will show prices in the selected currency, converted from the master price list using the current exchange rate.
- Adjustments, discounts, and promotions should be applied on top of the converted values.
- Out-of-the-box reference fields and managed package/formula fields will be converted automatically. Custom fields or callbacks referencing currency fields directly may require additional logic.
- Limit Products by Region/Currency:
- Only include products in a price list that are available for that currency/region. This keeps your catalog clean and prevents quoting unavailable products.
- Promotions and Approvals:
- Promotions: Set up promotions on the master price list and ensure they apply correctly after currency conversion on derived price lists.
- Approvals: Approval rules should be defined on currency/percentage fields and must consider conversion for derived fields. Direct absolute values require conversion logic.
- Maintenance and Scalability:
- Minimize Manual Price List Items: Use related price lists and conversion logic to avoid creating separate price list items for every currency, unless you need region-specific pricing.
- Test Thoroughly: Always run a proof of concept and validate with end users. Test all scenarios, especially edge cases like rounding and product availability.
Points to consider:
- Keep currency mappings updated:If you add new currencies or price lists, update all mappings and conversion rates to prevent errors.
- Keep currency mappings updated: If you add new currencies or price lists, update all mappings and conversion rates to prevent errors.