Your organization is a US-based company with a default currency of US Dollars.
As a sales rep, your personal currency set to British Pounds.
You create an opportunity with a currency in British Pounds.
The administrator updates the currency conversion rates.
Which of the following best describes what happens to the amount of your British-Pound-based opportunity?
Click on the arrows to vote for the correct answer
A. B. C. D.A.
Sure, I'd be happy to provide a detailed explanation.
When you create an opportunity in Salesforce with a currency that is different from your personal currency, the system automatically converts the amount to your personal currency using the conversion rate at the time of creation. This means that the overall opportunity amount is initially stored in your personal currency.
Now, let's say the administrator updates the currency conversion rates in Salesforce. This means that the exchange rate between your personal currency (British Pounds) and the organization's default currency (US Dollars) will change.
If the exchange rate between the two currencies increases (i.e., it takes more US dollars to buy one British pound), the overall opportunity amount will decrease in your personal currency, but the converted amount in a report will increase. This is because the system is converting the lower amount in your personal currency to the higher amount in the organization's default currency.
On the other hand, if the exchange rate between the two currencies decreases (i.e., it takes fewer US dollars to buy one British pound), the overall opportunity amount will increase in your personal currency, but the converted amount in a report will decrease. This is because the system is converting the higher amount in your personal currency to the lower amount in the organization's default currency.
To answer the question, the best answer would be (A) The overall opportunity amount does not change, but the converted amount in a report does. This is because the update to the currency conversion rates only affects how the opportunity amount is displayed in reports, but does not actually change the overall opportunity amount that was originally recorded in your personal currency.