How Forex Works in Kylas CRM

How Forex Works in Kylas CRM

In today’s global marketplace, businesses often deal with customers, vendors, and partners across different countries and currencies. To support this, Kylas CRM offers a built-in Forex (Foreign Exchange) feature that enables you to manage multi-currency deals efficiently. This feature allows businesses to track deals in various currencies while maintaining consistent reporting in their base currency.

This article explains how Forex works in Kylas CRM, the required setup, and how it supports global sales operations.


Table of Contents

  1. What is Forex in Kylas?

  2. Prerequisites

  3. How to Use Forex in Kylas

  4. Use Cases

  5. Benefits

  6. Conclusion


What is Forex in Kylas?

Forex in Kylas CRM refers to the platform’s capability to manage and convert currencies while working on deals or opportunities. If your business operates across countries, you may have deals in USD, EUR, INR, GBP, or other currencies. Kylas automatically converts these deal values into your base currency (e.g., INR) based on exchange rates, ensuring accurate reporting and forecasting.


Prerequisites

Before using the Forex feature, ensure the following:

  • User Permissions: You must have permission to create and edit Deals.

  • Product Plan: Available on Elevate and Exceed plans.

  • Base Currency Setup: The base currency must be defined in your account settings.

  • Exchange Rates: Ensure the system is updated with the latest forex rates (can be manually updated or auto-updated via integration).


Step-by-Step Process

Step 1: Navigate to Currency Settings

  • Go to Account Settings from the left sidebar.

  • Click on Currencies under the settings panel.

Step 2: View Base Currency

  • The Base Currency (e.g., India Rupees) is shown at the top.

  • This is your default currency for all calculations and reporting.

Step 3: Add Multiple Currencies

  • Under Select Currencies, choose the foreign currencies you want to use (e.g., USD, EUR, GBP).

  • Click on Add Currency to activate them.

  • All added currencies will show in the list with Status: Active.

Notes

Example:

  • Select “United States Dollar (USD)” → Click "Add Currency" → It appears in the list as "Active".

Step 4: Set Exchange Rate

  • Click the Set Exchange Rate button at the top right.

  • A new screen/tab opens where you can:

    • Select your base currency and target currency.

    • Enter the current exchange rate (e.g., 1 USD = 83.20 INR).

    • Save the rate to apply it to deals, reports, and forecasts.

Step 5: View and Track Exchange Rate History

  • Click on the Exchange Rate History tab to:

    • View all previously set exchange rates.

    • Track changes over time for audit and financial clarity.

    • Ensure consistent reporting for international clients.



Quote

Additional Notes

  • You can search for specific currencies using the search bar above the list.

  • Currencies once added can be edited or deactivated from the 3-dot menu (⋮) next to each.


Use cases:

Scenario

Description

🌐International Sales

Manage deals from clients across different countries and currencies.

🧾Accurate Revenue Forecasting

Get consolidated revenue forecasts in base currency.

💹Exchange Rate Fluctuations

Adjust deal values based on market forex changes.

🧮Finance & Accounting Sync

Helps align CRM reports with accounting systems that use base currency.


Benefits:

Benefit

Details

💱Multi-Currency Support

Enables global operations with flexibility in deal currency handling.

📊Accurate Reporting

Consolidates all deals into a single base currency for unified reporting.

🔄Real-Time Conversion

Quickly converts values using current exchange rates.

🧾Financial Clarity

Ensures finance teams and sales teams work on consistent, accurate data.

🌍Scalable Operations

Ideal for businesses expanding into international markets.



Conclusion

The Forex feature in Kylas CRM empowers globally operating businesses to track multi-currency deals effortlessly. With auto-conversion to a base currency, your reports and forecasts remain accurate, reliable, and clear—no matter where your clients are based.

Whether you're managing clients in New York, London, or Tokyo, Forex in Kylas keeps your sales pipeline globally aligned and locally actionable.


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