Updating the Base currency value of an open Opportunity to reflect the current exchange rate

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When a user creates an Opportunity in CRM, the system sets the value of the Estimated Revenue (Base) according to the exchange rate that is set at that time and only changes it when a currency-related value is changed on the Opportunity. We change our exchange rates for reporting purposes monthly. We want open Opportunities to be converted to the Base currency according to the current reporting exchange rate. So if someone enters an Opportunity with a value of AUD1,000, and the exchange rate to the base currency (USD) is 1.4, then the Estimated Revenue (Base) will be set to USD714.29. At the end of the month, if we revise the exchange rate to 1.35 we want the value of the open Opportunity to show as USD740.74. This is logical since the real value of the Opportunity in the Base currency will only be final when it is Closed (either as won or lost). But the system keeps the value set to USD714.29 regardless of how we change the system exchange rate. We have several hundred Opportunities open at any one time and many of them remain open for more than a month, so opening all open Opportunities up every month and adding 0.01 to the local currency value (and then reversing the process for tidiness) is not practical. We're looking for some automatic way of doing this. Does anyone have a practical solution to this problem?

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Mahendar Pal 45,095 on at

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Hi,

Value in existing opportunity won't be changed unless there is any modification in the money fields so you may create a simple console application to update money field in the open opportunity so that the calculation could be corrected automatically.

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Hi Mahen, thanks for your response. Do you know where I might be able to see an example of an app like that?

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Royal King 27,686 on at

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you could use custom workflow that executes based on scheduled time rather than using custom app. Create a workflow on opportunity and set it to execute on-demand, in this workflow you need to update estimated revenue in order to re-calculate exchange rate.You may increment estimated reveune to .000001 that will force system to re-calculate exchangerate. For this check the below post that has all the information to setup this.

alexanderdevelopment.net/.../scheduling-recurring-dynamics-crm-workflows-with-fetchxml

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Hi Chitra,

We have exactly the same problem to solve.

Unfortunately, the link provided by you doesn't work.

Is there anywhere any step-by-step guide on how to set it up?

Thanks,

Bartek

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