Considerations for Enabling Multiple Currencies at Cloud Kicks

BD

A. When multi-currency is enabled, changes to exchange rates update the converted amount on all records except closed opportunities. Enabling multiple currencies allows Cloud Kicks to conduct business in different currencies. When this feature is enabled, Cloud Kicks can define exchange rates between different currencies. If the exchange rates change, the converted amounts on all records (such as accounts, opportunities, leads, cases, and opportunity product schedules) will be automatically updated, except for closed opportunities. This means that any changes in exchange rates will be reflected in the converted amounts on open opportunities, but closed opportunities will retain their original converted amounts.

B. The primary currency is automatically displayed in parentheses when using multi-currency. When multiple currencies are enabled at Cloud Kicks, each record will have a primary currency associated with it. The primary currency represents the default currency for that particular record. When using multi-currency, the primary currency is automatically displayed in parentheses next to the currency symbol or currency field value. This helps to differentiate and identify the currency being used for the record.

C. Incorrect option. This answer choice states that accounts, opportunities, leads, cases, and opportunity product schedules support multi-currency reporting. However, it is important to note that only opportunities and opportunity product schedules support multi-currency reporting. Accounts, leads, and cases do not support multi-currency reporting.

D. Incorrect option. The statement that the multi-currency enablement process is irreversible is not true. In Salesforce, the multi-currency enablement process can be reversed by disabling the multi-currency feature. However, it is important to note that once multi-currency is enabled and transactions have been recorded in multiple currencies, disabling the feature can have significant impacts on the organization's data. Therefore, careful consideration and planning should be undertaken before disabling multi-currency functionality.

In summary, the correct considerations for enabling multiple currencies at Cloud Kicks are:

A. When multi-currency is enabled, changes to exchange rates update the converted amount on all records except closed opportunities. B. The primary currency is automatically displayed in parentheses when using multi-currency.