Using Multi Currency and Base price for product

Question

We use advanced multi currency.

We have a situation, where a product has it's base price in USD, but it's been paid eventually in local currency (INR for example - Indian Rupee)

So if the product (lets call it ACME) is priced at 4000 USD, The oppty should will be priced accordingly, in INR.

The thing is, that the pricebook entry , has it's own INR value, and that value is NOT related to ANY conversion rate.

If the base price will change from : 4000 to 4400. Eventually, I want it to reflect in INR (or any other related currency, price book)

Is a mechanism to solve this exists?

I want that a product will have it's base price in USD, but when inserted into an INR OPPTY, will get the most updated INR value.

Answer 1

If Advanced Currency Management is Enabled, normally Dated Exchange Rates are used for opportunities, opportunity products, opportunity product schedules, campaign opportunity fields, opportunity splits, and reports related to these objects and fields. Otherwise, Static conversion rates are used.

The thing is, that the pricebook entry , has it's own INR value, and that value is NOT related to ANY conversion rate.

The above implies that you're using a Static conversion rate for your pricebook entry and not a Dated Exchange Rate.

It would seem to me that you need to change the behavior or your pricebook entry for INR and any others such that it uses a Dated Exchange Rate rather than a Static Conversion rate.

Answer 2

When you set up a multicurrency price for a Product2 (SKU), the values you use for each currency are in no way tied to any of SFDC's currency conversion rates - nor should they be.

This is because SFDC currency conversion rates are there to translate between currency amounts and the org default currency. And such conversion is typically done to rollup Opportunity Amounts into a common org currency for reporting against forecasts.

Pricebooks represent marketing's decision as to how to price a product for the local market. Compromises are made in the exchange rates in order to succeed in each local market. As such, the INR converted value of a USD-based price will only coincidentally be calculated using the same currency conversion rate set up in SFDC between USD and INR for reporting purposes.

Furthermore, a price increase in USD for SKU X may not require any price change of the same SKU in INR (see local market above). Or, the business could raise/lower prices in INR without changing the USD price of SKU X.

Consequently, if you need to make price changes for SKU X across multiple currencies, you'll need to use Data Loader or some other utility to update the PricebookEntry objects with the new list prices. Export into Excel and then use Excel formulas to manipulate before using Update.