Allow exchange rates or local currency equivalents to be amended retrospectively for closed deals
This feature would allow for dashboard revenue reporting in HubSpot to reconcile to other financial systems, and ensure that the reporting is accurate. Currently the rates have to be manually updated every day, and unless the dels are closed in HubSpot on the same day as they are invoiced that rates will be out of sync and the rpeorting unreliable.
Guidance should also be provided on what rates to use. We are using HubSpot in the UK and originally set up our USD:GBP rates in the standard way (e.g.1.4) when we should have been using the inverse (0.714), so ur reporting in Hubspot is wildly inaccurate and of little value.
We need this too! Also adjusting the exchange rate for closed deals. Due to the fluctuation, you can't influence this now, so the financial reporting is not correct :(.
I have just inherited a Hubspot system where all retrospective deals have been pulled in from Salesforce and had the wrong (reverse) exchange rates on. I cannot get any sensible attribution data from the system and have the nightmare of reporting from Salesforce (urgh)
It would be foolish of me to try to move the deals back then to Closed Won again without fear of destroying all company attribution on the other platforms we use. Netsuite, Salesforce etc.
There must be a way of implementing a re-calculate company currency on past Deals.
I have deals worth millions that are worth the 1/100 and a system that has 10 months of useless deal amount data. A simple re-calculate button could fix this!
With the current fluctuations in currencies, we are struggling to reconcile our hubspot contract data to what we report on and calculate commission on outside of hubspot.
We manually recalculate contract values to the spot rate at the beginning of each quarter to get the true ACV value for those contracts not in USD (our base currency). However as we have not done this in HubSpot at the beginning of each quarter, we can no longer edit the exchange rates.
Clicking through to Settings>Account Defaults>Currency>GBP Actions>View currency history>Exchange rate history and actions edit does not solve this problem for us as the effective dates for historical exchange rates can't be edited.
Ideally we would like to edit the effective dates or have this changed for us by developers.
It would also be useful to have an automatic workflow to update the exchange rates every period (for us the 1st of each quarter). By having to manually update this could lead to incorrect effective periods (e.g the 1st of the month falls on a saturday, this won't be updated until Monday)
The lack of currency flexibility is really limiting our reporting capabilities from HubSpot. We are having to export to Excel and manually use exchange rates there to match what we use for reporting.
It would be really helpful to be able to edit the "effective dates" on currencies in settings the same way that the rate itself can be edited. For us, we generally use a fixed rate for each quarter - but if this isn't done on the 1st of the month (e.g. if weekend, someone on holiday), then there is no way to backdate the change.
Please help up get this into a Beta at least! Agree with all the comments above. We had this functionality with the previous CRM we were using and now that we are upgrading to Hubspot, this is not possible, not even through a back end solution by the dev team. This is frustrating. Running external reports and not be able to integrate to the analytics, while at the same time having to deal with incorrect historical data that was synced from the previous CRM is not ideal to say the least..
I accidentally put the exchange rate backwards, 10:1 instead of 1:10. When I discovered this some months later I corrected it... but al deals closed in the period before I noted the error are TOTALLY wrong. 5 million EUR instead of 50k Euro.
However, editing the exchange rate back in time only applies to NEW Deals that you Close in the applicable date range. It does not retroactively change old Deals that were closed in this period. The solution in the end was to create a new Deal so the amount was correct in all currencies… then merge the old Deal into the new Deal to capture all the Notes, Conversations, etc that had been logged on the Deal.
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