Describe the information found in the company settings.
Company settings are a collection of global attributes to describe the organization using Salesforce. They consist of company, currency, fiscal year, support, and locale settings. Some attributes are predefined when purchasing Salesforce, but can be changed as needed.
Company information settings allow defining the contact information, default locale, and default currency of an organization using Salesforce. The company information page also displays information about license and data storage usage.
Key Company Information:
By default, only one currency is enabled in a Salesforce org. However, additional currencies can be added by enabling the multi-currency feature.
The multi-currency feature results in permanent Salesforce org changes, and it cannot be deactivated later. It creates a new currency field on each object, to set the relevant currency on record level.
If multiple currencies are enabled, one currency can be defined as the corporate currency. Exchange rates between the corporate currency and other currencies must be maintained manually. Changing the exchange rate of a currency updates currency values all records.
To maintain historical exchange rates and values, the advanced currency management feature can be activated. This allows storing dated exchange rates.
Key Currency Information:
Fiscal year information settings allow defining the start month of the fiscal year for a company. This setting impacts reporting and forecasting features, which include date ranges based on the fiscal year.
Key Fiscal Year Information:
Support information settings allow defining the business hours and holidays relevant to a company. Those settings impact case escalation rules which only run during business hours and are paused during holidays.
Key Support Information:
Locale settings allow defining the default language and time zone used in a Salesforce org. In addition, the display format for different data types such as date/time, names, addresses, and numbers can be specified.
The default locale defined in the company settings applies to the whole Salesforce org. However, locale settings can also be defined on user-level. The user locale overrides the default locale. This allows users from different locales to use the same Salesforce org.
Key Locale Settings: