This is a YouTube video titled "How to Add Currency Exchange Rates in HubSpot | Step-by-Step Guide" created on July 1, 2024. The content features Jorge Fuentes from Sidekick Strategies providing a detailed tutorial on how to add and use currency exchange rates within the HubSpot portal to streamline reporting and analytics for deals in multiple currencies.
Hi, this is Jorge Fuentes from the Sidekick Strategies team and today I'm going to show you how to add an exchange rate for a specific currency within your HubSpot portal. Why would this implementation be useful for a business? Well, if you sell to different markets or in different currencies, this particular hack will get you to a more streamlined reporting and analytics based on your close one deals. Check it out. Once we're inside of HubSpot, we're going to navigate to our top right section where we can see the gear icon right here and click on it. This is the settings icon and on the left side we're going to navigate to the account defaults. Now once we click on account defaults, we're going to go and into the currency tab right here. And once we click on that one, here's where I'm going to add a new currency, right? So I'm going to add hit to add a currency, I'm going to look for the euro in this case. There we go. Here it is. And then I'm going to actually place an Exchange Rate of 1.07 in this particular case and I'm going to click save. Now, how will this work in my portal? So let's go to the reporting section. To kind of exemplify how this works, I'm going to click on my dashboards right here and I'm going to show you that I have a specific report which right now is actually empty. But this will give me the amount of business that I close today. Right? And so we understand that right now we just set a specific exchange rate for anything that is the euro. And so let's go to the CRM section and go to deals. Now what I'm going to do next is create a deal. So on the top right corner I'm going to manually create a deal. Click on Create a deal. And I'm going to call it Euro test just for the sake of it. And then I'm going to choose the deal stage as close one. Now here where I'm going to place an amount, I'm going to place maybe 10,000 just so that we have route numbers right here. And I'm going to place the currency as a euro in this particular case. So €10,000 closed one today. Let's create that right now. Let's go. So now that that is created, let's go now back to our report and you will actually see this in action. So if, if I go to the dashboard, you can see right here that, that this particular report gives me that I closed today. Close one today. US$10,700, right? But this is because I do have that exchange rate enabled whereby the a euro is worth $1.07. So HubSpot was smart enough to actually give me in my company currency, which is the US dollar, the amount that I closed today, even though it was in the Euro currency. And that is how this magic works. And with that quick implementation, you're now on your way to report on deals, even if they come from a distinct currency. And you'll actually be able to see that data in your home currency or your company currency. Remember, education is great, but the execution is where it's at. So go out there and be the hub hero that your organization needs today.
