Single currency and multicurrency in PolicyCenter

In the base configuration, multicurrency features in PolicyCenter enable you to create multicurrency lines of business. PolicyCenter operates in both single and multiple currency display modes. Whether you run PolicyCenter with a single currency or with multiple currencies, PolicyCenter objects and user interface elements for displaying monetary amounts include both an amount and a currency property. Objects, such as accounts and contacts, contain properties for specifying currency properties, such as a preferred currency. Producer organizations can have billing plans and producer codes can have commission plans in different currencies.

PolicyCenter is always configured as a multicurrency system, even if only one currency is defined. The data model and the business logic do not change when multicurrency display is set to single currency (the default). The multicurrency user interface elements are visible only in the base configuration when you enable multicurrency display mode. Even when multicurrency display is set to single, currency fields still are populated within the data model. When multicurrency display mode is single, PolicyCenter does not display the user interface elements that enable you to change those fields.