Advanced Currency Management and dated exchange rates

Key Takeaway

Advanced Currency Management (ACM) converts opportunity amounts at the rate that was in effect for the opportunity's date, not today's rate.

Advanced Currency Management (ACM) lets an org that uses multiple currencies tie exchange rates to date ranges. Without ACM, Salesforce uses one static conversion rate per currency, and changing that rate re-converts every amount, including closed opportunities.

Static conversion rates without ACM

Without ACM, a multi-currency org uses static conversion rates. When you change a static conversion rate, amounts update using the new rate and Salesforce doesn't store previous rates. This means the converted value of closed opportunities changes too.

Platform Administrator Study Guide

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Describe the information found in the company settings (for example: company settings fiscal year, business hours, currency management, default settings)

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Company Information page contents

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Organization default locale language and time zone

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Standard versus custom fiscal year

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Business hours and holidays

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Multi-currency enablement and corporate currency

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Advanced Currency Management and dated exchange rates

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Distinguish and understand the administration of declarative configuration of the user interface (UI)

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Given a scenario, demonstrate the proper setup and maintenance of users

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Explain the various organization Security Controls

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Given a user request scenario, apply the appropriate security controls based on the features and capabilities of the Salesforce sharing model

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Given a scenario, determine the appropriate use of a custom profile or permission set

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Advanced Currency Management and dated exchange rates

Key Takeaway

Advanced Currency Management (ACM) converts opportunity amounts at the rate that was in effect for the opportunity's date, not today's rate.