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In this situation I would like to have a field for 'LIBOR.' I would like to be able to update this field once/wk, but ideally, I would like to be able to update it once, in one location, instead of having to do a mass update to every record. Does any functionality like this exist? Thanks!

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  • Or you can create custom setting for that one field with name value pair, use that in a formula on required to. – user611 Sep 26 '12 at 5:03
  • Do you mean on different objects? Something like a global variable? – Saariko Sep 27 '12 at 15:23
  • @Saariko, yes, the question was answered below. – jackerman09 Sep 27 '12 at 18:32
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I suggest creating a Custom Label LIBOR with the value you intend to have in this field, and then adding a formula field on your object with a value of VALUE($Label.LIBOR). This will allow you to update the value of the custom label and have the change reflected instantly across all of your records.

EDIT: You also need to use the VALUE() function so that you get the correct data type (number, not text), because label values are always text. It should look like this:

VALUE($Label.LIBOR)
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    Once edit I would suggest to your answer is that you also need to use the VALUE() function so that you get the correct data type (number, not text), because label values are always text. It should look like this: VALUE($Label.LIBOR) Thanks! – jackerman09 Sep 25 '12 at 16:15
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It seems like a data modelling question to me. The variable value should be broken into a lookup table which the other records look up to.

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