Introduction

Welcome to the guide on HubSpot Account Defaults, specifically focusing on the "Currency" tab. This guide aims to provide HubSpot administrators with a comprehensive understanding of the various features and functionalities available within the "Currency" tab. By following this guide, you will learn how to manage and configure both default and additional currencies for your HubSpot account, ensuring accurate financial data management. We will cover the purpose of the "Currency" tab, detailed steps for setting up and managing currencies, and best practices to maintain financial accuracy and efficiency.

Purpose and Objectives

This guide aims to provide HubSpot administrators with a comprehensive understanding of the "Currency" tab within HubSpot's account defaults. By the end of this guide, you will be able to:

1. Understand the purpose and functionality of the "Currency" tab.
2. Manage and configure default and additional currencies for your HubSpot account.
3. Apply best practices to ensure accurate financial data management.

Understanding the Topic

Explanation of Concepts

The "Currency" Tab

The "Currency" tab within HubSpot's account settings is a critical feature for businesses operating in multiple countries or dealing with international clients. It allows administrators to set up and manage the default currency for their account as well as add and manage additional currencies. This ensures that the financial data within the CRM is accurate and reflects the true value of transactions in different currencies.

Detailed and Technical Aspects

1. Accessing the Currency Tab:
   • Navigate to your HubSpot account.
   • Go to Settings (the gear icon in the main navigation bar).
   • In the left sidebar menu, navigate to Account Settings.
   • Select the Currency tab.
2. Setting the Default Currency:
   • The default currency is used for all financial data unless specified otherwise.
   • To set the default currency, click on the dropdown menu in the "Default currency" section and select the desired currency from the list.
3. Adding Additional Currencies:
   • If your business deals with multiple currencies, you can add additional currencies to your account.
   • Click on the Add currency button.
   • Select the currency you wish to add from the dropdown list.
   • Click Save to add the currency to your account.
4. Managing Currency Exchange Rates:
   • HubSpot automatically updates exchange rates daily. However, you can manually update these rates if required.
   • In the Currency tab, click on the Actions dropdown next to the currency you wish to update and select Edit.
   • Enter the new exchange rate and click Save.
5. Deleting a Currency:
   • To remove a currency, click the Actions dropdown next to the currency and select Delete.
   • Note that you cannot delete the default currency.

Best Practices

1. Regularly Update Exchange Rates:
   • Ensure that exchange rates are regularly updated to reflect current market values. This is especially important for businesses dealing with multiple currencies.