Do you do business across borders and want to offer your international customers quotes and invoices in their own familiar currency? You can do this by using multiple currencies in Tribe CRM. Activate the desired currency and easily set the prices of your products in the different currencies. The prices in the sales opportunity or invoice are automatically calculated according to the correct exchange rate, while your widgets simply display the figures in the local currency. You are never again limited to a single currency so you can do business internationally with the greatest of ease.
How do I activate multiple currencies and set the exchange rate?
How do I enter the currency prices of my products?
How do I process the correct currency in an activity?
How do I work with currencies in combination with price lists?
Which processes are supported in multiple currencies?
1 How do I activate multiple currencies and record the exchange rate?
Please note: Activating multiple currencies is only possible when no financial link is on. You can read more about the supported processes in chapter 4 of this article.
You can find the currency activation in Tribe's configuration, you need administrator rights for this. Follow the steps below to activate the currencies.
Navigate to configuration > settings.
Activate the use multiple currencies slider.
Select the base currency. Amounts in the widgets are calculated based on the base currency. The default base currency is Euro.
Click the add button and select the desired currency.
Enter the exchange rate from the base currency to the selected currency.
Activate the selected currency using the slider. If you do not perform this step, it will exist in Tribe but cannot be applied in products and quotations etc.
Save the currency.
The screen (and that of all other users) is now refreshed. This implements the changes immediately.
Repeat these steps for all desired currencies.
As the exchange rate can fluctuate, it is possible to change the exchange rate at any time. Do not forget to save it afterwards.
2 How do I enter the currency prices of my products?
The next step is to add the correct (currency) prices to the products. A product contains a purchase and sales price. Both prices are based on the base currency. In addition, add a currency price for the selling price if it is desired for the specific product.
Navigate to configuration > products.
Open an existing product or create a new product.
In the price information section, enter the purchase and sales price based on the base currency.
Click the blue + button and select the currency you want to add. This button is only shown if a currency is activated that has not yet been added to the product.
The price of the product is calculated automatically based on the exchange rate in the settings. Adjust it manually if necessary.
Your changes will be saved automatically.
Repeat these steps for the remaining products.
Please note: Importing currency prices is not currently supported.
Product prices
You have a long list of products and support multiple currencies. How do you keep the overview? To do so, use the product prices view that you find as a menu in the configuration. This view shows all your products with their prices in the base currency and the foreign currency.
3 How do I process the correct currency in an activity?
Activities with activated product management have product rules available in the activity on the products tab. On this tab, after activating currencies, you will find a currency setting for this particular activity. Also own activities with an active product management setting can use the currencies.
You can adjust the currency setting when no product rules have yet been added in the activity. After that, the setting cannot be adjusted to avoid the risk of different currencies within one offer. Did you make a mistake? Then delete the product rules. This activates the setting so you can still adjust it.
The prices on the product tab are displayed in the chosen currency. The purchase price is always displayed in the base currency.
From the sales opportunity, you create the quotation. The same settings are taken from the sales transaction. The (quotation) document also contains the required currency sign.
Widgets and views
The default widgets such as pipeline or subscription mode always use the base currency. If a different currency is used in a record, the different currency will also be shown.
When activating currencies, additional fields are added to activities, which you can use in views and widgets.
Currency (abbreviation currency)
Amount in currency
Total sales excl. VAT in currency
Total sales incl. VAT in currency
4 How do I work with currency in combination with price lists?
Do you have price agreements that cross borders? Then create a price list for each currency.
When creating the price list, select the correct currency. You can change it after saving, as long as you have not added any products to the price list.
In the article How do I work with price lists you can read more about using price lists.
5 Which processes are supported in multiple currencies?
The use of multiple currencies is supported in the standard processes, namely;
Sales opportunity
Sales order
Quote
Invoice
Subscription
Work order
For some other processes, it is not possible to activate currencies. We explain these in more detail below.
Financial links
If you currently use a financial link or plan to do so in the future, it is not possible to use multiple currencies. This is not supported by many linking partners, which is why Tribe does not offer this option either. An active financial link ensures that the currency setting cannot be activated. An active currency setting ensures that all financial links are hidden in the marketplace.
Projects and time recording
Within a project, it is possible to create and send invoices. Currencies are supported within an invoice, so also when an invoice is part of a project. However, the amounts in the project statistics (within the activity) are only shown based on the base currency, showing in another currency is not supported.
Hours records can only be calculated based on the base currency. Even when an hour type contains a link to a multi-currency product, Tribe will calculate the hours based on the base currency.
Imports and automations
Being able to import products with different currencies or setting up automations for e.g. indexing (currency) product prices is not yet supported. However, we are continuously working on improvements to further extend the functionality of the system.