---
title: Setting up defaults required for standard currency use
description: Set up the defaults required for use of standard currency fields in your instance.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/platform-administration/currency-administration/setting-up-standard-currency-defaults.html
release: australia
product: Currency Administration
classification: currency-administration
topic_type: concept
last_updated: "2026-03-12"
reading_time_minutes: 1
breadcrumb: [Configure, Currency administration, Configure core features, Administer the ServiceNow AI Platform]
---

# Setting up defaults required for standard currency use

Set up the defaults required for use of standard currency fields in your instance.

-   **[Control default currency field configuration and use in an instance](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/platform-administration/currency-administration/currency-properties.md)**  
You can control how currency fields are configured and used in your instance.
-   **[Change default currency decimal places](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/platform-administration/currency-administration/change-currency-fraction-digits.md)**  
You can specify the number of decimal places stored and used in currency fields and calculations.
-   **[Configure default currency fields in audit records](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/platform-administration/currency-administration/audit-currency-fields.md)**  
You can control what currency value is stored in audit records.
-   **[Configure the currency optimizer](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/platform-administration/currency-administration/configure-currency-optimizer.md)**  
You can configure the system to use an optimizer for currency/price fields to speed up list view \(reading currency/price values\).
-   **[Default currency conversions](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/platform-administration/currency-administration/currency-conversions.md)**  
Currency values can be converted to other currencies when stored and accessed.

**Parent Topic:**[Configuring currency fields](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/platform-administration/currency-administration/configure-currency-admin.md)

**Related topics**  


[Setting up defaults required for FX Currency use]()