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. Which currency that is depends on what you are looking at.
If every deal you work with is in the same 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.
Which Currency a Total Uses
Matrix has three currency settings, and each one applies at a different level:
| You are looking at | Totals are shown in |
|---|---|
| A single opportunity | That opportunity's own Currency |
| One property (any report or view scoped to a single property) | That property's Default Currency |
| More than one property (a portfolio or all properties) | Your subscription currency |
So a portfolio with a hotel in Canada and a hotel in the US sees each hotel's own reports in its own currency, and only the totals that combine both hotels are converted into the subscription currency.
Setting the Currencies
Property Default Currency. Each property chooses the currency it works in on the Property tab of property setup (Properties > [your property] > Property), next to the timezone and date format.
Opportunity Currency. Each opportunity shows its own Currency field.
Subscription currency. One setting for your whole subscription, used only for totals that span more than one property. The M1 Intel team sets it for you. 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.
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 the currency the total is shown in. 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 |
Where the Exchange Rates Come From
Matrix uses the European Central Bank's daily reference rates, imported each day. They are used for totals only and never change the amount on a deal.
Questions? Email support@m1intel.com