Currency field with Default Value in Salesforce

In Salesforce, the Currency Field with Default value is the pre-defined value that automatically populates the currency field when a new record is created.

For learning this process, you have come to the right place. We learned this topic in both the editions of Salesforce Lightning and Salesforce Classic.

How to Set Default Value for Currency Field in Salesforce Lightning

Here, we will learn how to set the default value for the currency field in Salesforce Lightning.

Consider a Scenario: Suppose there is a Runmic corporation, a global company that sells software solutions and can sell its solutions worldwide.

The company sales team wants to collect the data entry process for the new opportunities by setting a default currency for the amount field. The default currency should be the company’s primary currency, which is $1000.

Here are the following steps:

1. Log into your Salesforce Account –> Click on the Setup option –> Select the Object Manager tab –> Enter the Opportunity in the Search box –> Select the Opportunity object.

How to set the default value for the currency field in Salesforce

2. Here, we select the Fields and Relationships option. Then, select the new button to create a new field. We select the currency field and then click on the next button. Our opportunity page is open.

Fill in all the information carefully. First, fill in the field label as Amount and then fill in the field name. There is a default value field present. We want to set the default value for this amount field as 1000 and then click on the next button.

How to set the default value for the currency field in Salesforce Lightning

3. Now establish field-level security that can select the profiles to which we want to grant edit access to this field via field-level security. Click on the next button.

Set the default value for the currency field in Salesforce

4. Here, we want to add this field to the page layout. Select the page layouts that should involve this field. To change the location of this field on the page, we will need to customize the page layout. Click on the save button.

Set the default value for the currency field in Salesforce Lightning

5. Click on the App Launcher and enter the sales in the search box. Click on the sales option. The Sales page is open.

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Here, we are selecting the opportunity object. The opportunity object record page is open. We are creating a new record, so we click on the new button. Our Opportunity dialogue box is open, and under this, we can see that the default value inside the amount filled is pre-populated.

Salesforce set the default value for the currency field

6. Click on the software solution record. Our software solutions detail page is open. Under this page, we can see our default value, which is the amount of opportunity set to be $1000.

Salesforce Lightning set the default value for the currency field

In this way, we understand how to set the default value for the currency field in Salesforce Lightning. Let’s Proceed further and learn how to set the default value for the currency field in Salesforce Classic.

How to set the default value for the currency field in Salesforce Classic

Here, we will learn how to set the default value for the currency field in Salesforce Classic.

Let us take an example. Suppose there is a retail store that uses Salesforce to manage its sales and customer data. They want to set the default currency value for the price field on this product object. The default currency should be based on the country where the product is being sold.

As this company is based in the United States of America, this product sold in the United States should have USD as the default currency.

Here are the following steps

1. Click on the Setup option, enter the Objects in the Quick Find Box, and Select the Product object on the custom object page.

How to set the default value for the currency field in Salesforce Classic

2. Here, we can see that the Fields and Relationships option is present. Click on that. We want to create a new field; for this, click on the new button. Here, we select the currency field and then click on the next button.

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Enter the details. First, fill in the field labeled Price and then the field name. After that, scroll to the bottom of the page, and there is a default value field present here. We want to set the default value for the price field to 500. Click on the next button.

Set the default value for the currency field in Salesforce Classic

3. Now, establish field-level security, which allows us to select the profiles to which we want to grant edit access to this field. Click on the next button.

Salesforce Classic set the default value for the currency field

4. The field will not appear on any pages if we do not select a layout. To change its location on a page, we will need to customize the page layout and then click on the save button.

How to set default value for the currency field in Salesforce Classic

5. Go to the home tab, and under this home tab, select the product object from the nav bar. The product record object page is open.

Here, we are creating a new record, so we click on the new button. The new product page opens, and under this page, we can see the information related to the product. We can see that the price is, by default, filled.

Set default value for the currency field in Salesforce Classic

6. Click on the Product Retail Store record. Our price is set to 500 by default.

Salesforce Classic set default value for the currency field

This explains how to set the default value for the currency field in Salesforce Classic.

Conclusion:

I hope you read the complete article and get the complete idea related to how to set the default value for the currency field in Salesforce. 

I have also explained all the steps of setting the default value for the currency field in Salesforce Lightning and Salesforce Classic.

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