Overview
Each deal in Matrix keeps the currency it was entered in. When Matrix adds deals together, for example the total at the top of a pipeline column, it first converts them into one currency so the total means something. That currency is your subscription's Reporting currency.
If all your deals are in the same currency as your reporting currency, nothing on this page changes anything for you.
Conversion only ever affects totals. A deal, a contract, a generated document, or a rate grid always shows the currency it was entered in, unconverted.
Setting Your Reporting Currency
The reporting currency is a single setting for your whole subscription. The M1 Intel team sets it for you, so there is nothing to configure on your side. If it needs changing, email support@m1intel.com.
It can be any of the five currencies Matrix supports: USD, CAD, MXN, EUR, or GBP. New subscriptions start on USD. Existing subscriptions were set automatically to the currency most of their properties use, so most teams will never need to change it.
Where Each Deal's Currency Comes From
Each property has its own Default Currency, set on the Property tab of property setup (Properties > [your property] > Property), next to the timezone and date format. That is where a hotel chooses the currency it works in. Each opportunity also shows its own Currency field.
So a portfolio with a hotel in Canada and a hotel in the US can run each one in its own currency, and the totals across both are converted into your reporting currency.
What Gets Converted
- Opportunity board column totals, at the top of each column
- Total value on the Opportunities list
Both recalculate when you change a filter or scope, and when you drag a card to another column, even if that deal is in a different currency from the rest of the column.
Some reports still show a separate figure for each currency rather than one converted total. Account Production is one of them: an account with contracts in more than one currency shows a figure per currency. See The Account Production Report.
Reading a Converted Total
| What you see | What it means |
|---|---|
| A plain figure | Every amount was already in your reporting currency. Nothing was converted |
| A figure with ≈ in front | Amounts in other currencies were converted. Hover over it to see the amount in each original currency, the exchange rate used, and the date of that rate |
| A figure per currency with a "conversion unavailable" note | Matrix did not have a rate for one of the currencies, so it shows each currency separately instead of guessing |
If the rate Matrix used is out of date, the hover details say so.
Where the Exchange Rates Come From
Matrix uses the European Central Bank's daily reference rates, imported each day. They are used for reporting totals only and never change the amount on a deal.
Questions? Email support@m1intel.com