Managing Currencies and Markets

Markets allow users to vary the amount of conversion for different countries or other geographic locations. 

For example, the US dollar is worth a specific amount in the United States, but it may be worth a different amount if used somewhere else. To compensate for this, the US dollar is multiplied by the Market Factor for that location to determine the final converted price.

A Market Factor is a value multiplied by the associated Market's currency to increase or decrease the value of the currency for the location. 

After a quote is created, select the appropriate market from the dropdown menu under Market field in the quote. This will show the price of the quoted items in the selected Market currency.  

The administrator specifies visibility permissions for a market. Once a market is defined, the user must be given permission to view the market. Market visibility is defined by the criteria User, User Type, and Company. Each permission must be true to make the selected market visible.

For example, if user Hooly Cook and the user type Inside Sales are selected for a set of markets, then that rule will work for Hooly if she is associated with the Inside Sales user type. The selections for the User, User Type and Company list-boxes are connected to a logical AND operator. The market is visible only when all three selections are true. However, users can access quotes even when the visibility of the quotes' selected market is restricted.

The Market Name field displays the Market Definitions that have been created. To select multiple markets (under the Market Name list-box), choose and drag to select multiples, hold down the Ctrl key and make multiple selections, or choose one hold down the Shift key and choose another to make multiple selections. The Condition field can contain any valid expression that can be evaluated as "1" (True) or "0" (False). If the result is "0" (False) the rule will not apply. If the expression evaluates to "1" (True) then the rule will be applied.

Let's manage currencies and markets on our own in the next exercise!