Deal Currency and Deal Value are two optional fields you can utilize when creating new deals for your sales pipeline. This is an approximation of how much money this deal can bring to your business as well as what currency you expect the lead to use for payment.
It is important to note that you should always enter the value you expect to charge in the lead’s respective currency. For example, if you are an American business closing a deal with a European client, you would expect to be paid in EUR.
For this example, we’ll say that we have an open deal with Dave’s Auto Body worth 1,000 EUR.
When creating the deal, we enter 1000 in the Deal Value. Under Currency, be sure to select the currency the lead will use. In this case, select EUR.
When the deal appears in your pipeline, you will see the deal and its value in your primary currency. This means that the conversion actually takes place automatically without any additional input from you.
You can also perform this conversion if you add a value later through the deal card menu. Click on the name of the deal in blue to go there.
In the left-side column under About This Deal, make sure that the Currency field is present. If it is not, click on Manage Properties. Then, find the Currency field within the list and click Add to View. Click Save at the top of the page.
Now, head back to the About section. Then, find the Currency field and select the type of currency you expect the lead to use.
Following the same example above, we will again select EUR. Then, click Save. The Deal Value will automatically update under the deal name.
Contract Type, Contract Length, and Total Deal Value
The above information is everything you need to know whenever your deal is a one-time transaction only. However, you can also change the contract type to be a monthly or annual one. Whenever you change the type to be one of these, the contract length and total deal value fields will also appear. You can then set a number for the length, which then prompts the total value to be calculated automatically. This calculation is based upon the deal value * contract length. For example, an annual contract that lasts two years at a value of $1,000 will give you a total value of $2,000.
That’s everything you need to know about deal value and currency! Be sure to keep these tips in mind whenever creating new deals, so that you can better keep track of monthly wins and losses within the Deals application.