Multi-Currency Management

🆕 Getting Started

Dolfin supports calculating compensations in and across multiple currencies. Currencies are configured at both the organization and team levels. The organization-level currency serves as the default for overarching analytics and reporting. At the team level, you can configure a specific currency for compensations. All compensations for that team will be calculated using the team's currency, while Dolfin ensures seamless conversion to the organization's currency for consistent analytics and quota attainment tracking.

🔄 When is conversion happening?

Understanding when currency conversions occur helps track how values flow through the system:

💰 When processing bonuses:

1. Bonus amount is defined in team's currency
2. System converts the amount to organization currency for reporting
3. Original value will be used for the final payout calculation

💼 When Calculating commissions

For deals/invoices in different currencies:

1. Original deal/invoice calculated commission is preserved
2. Calculated commission is converted to organization currency for metric calculations and reporting
3. Commission is converted to team's currency for the payout

📊 When Generating Metric Values

When deals/invoices contribute to metrics the calculated values from them will be stored in the organization's currency. For example if we have a MRR metric that sums up all the Closed Won deals amount, if the organization currency is USD and the deal amount is in EUR, the final metric value will be calculated in USD

📈 How targets and tiers work

Understanding how targets and tiers work with different currencies is crucial for accurate compensation management. While thresholds are always set in the organization's currency, the way outcomes are displayed varies between targets and metrics.

Key Points

• All tier attainments (whether based on targets or metrics) are calculated in the organization's currency
• Target outcomes and payouts are displayed in the team's currency
• For targets, percentages represent the achievement level of the target's outcome value (set in team's currency)
• Automatic conversion happens behind the scenes

Examples

1. Percentage-based Target

• Organization Currency: USD
• Team Currency: EUR
• Target Outcome: €150K

2. Value-based Metric

• Organization Currency: USD
• Team Currency: EUR

👀 When do I see each currency

💶 Team Currency

Values displayed in the team's currency include:

• User Statement
  • Individual transaction amounts
  • Monthly totals

• Payouts (User Dashboard)

  • Individual transaction amounts
  • Year-to-date earnings
  • Month-to-date earnings
  • Historical payments

• Target Outcomes

💵 Organization Currency

Values displayed in the organization's currency include:

• Metrics

  • All metric thresholds
  • Analytics

• Targets

  • Tier thresholds
  • Performance reporting

💵 Original Currency

All deals and invoices will be displayed in their original currency

💱 Currency Conversion Rates

Dolfin provides two methods for currency conversion:

1. 🔒 Fixed Exchange Rates

• Set up custom exchange rates in organization settings
• Ideal for organizations that want to maintain stable conversion rates
• Can be updated manually as needed
• Provides exact conversion values based on your defined rates

2. ⚡ Real-Time Exchange Rates

• Automatic conversion using official Exchange Rates API
• Exchange rates are updated once per day
• For exact calculations, consider using fixed exchange rates
• Suitable for organizations requiring current market values

⚙️ Configuration

To set up custom exchange rates:

1. Navigate to Organization Settings
2. Select "Currency Management"
3. Add currencies and their respective exchange rates
4. Choose between fixed or real-time rates for each currency pair

💬 Need Help?

Contact support@heydolfin.com for assistance with multi-currency setup or questions about currency conversion.