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interworks.cloud platform supports to bill your customers in their local currency by generating their invoice in this currency using the exchange rate you have defined. This is accomplished by defining two currencies per customer: the account base currency, which is the primary currency, and the transaction currency that is used for converting all invoices from the account base currency to the transaction currency using the exchange rate you have defined between these two currencies. When you define for a customer a transaction currency different than his base currency, the system keeps all invoices in both currencies. 

The system uses the base currency for:

  • Calculating customer's balance. All financial entities (debit invoices, credit invoices, payments and refunds) are kept in base currency and are used for the calculation of customer's balance
  • Calculating customer's financial info like available credit, overdue payments, annual subscriptions amount, lifetime subscriptions amount and monthly run rate.
  • Displaying product prices in the Marketplace. The prices in the Marketplace are always displayed in account's currency
  • Subscriptions amount. All customer subscriptions are kept in base currency.
  • Customer's offers and orders. 

The system uses the transaction currency for:

  • Converting all customer invoices to his transaction currency using the exchange rate on invoice date.
  • Accepting credit card payments. The amount that must be charged to customer's credit card is converting to transaction currency and this amount is sent to payment gateway. 

Your resellers and direct customers will be able to view their invoices in both currencies in your Marketplace. 

Define Currencies Exchange Rates

This page describes how you will setup the exchange rates between the currencies you have activated in your BSS.  

Define the Transaction Currency of your Customers

The transaction currency of an account is defined in his ordering options.

View Invoices in Transaction Currency

For customers with transaction currency different than their base currency, the system converts automatically all invoices to transaction currency too using the current exchange rate. The invoice is displayed by default in base currency (both in BSS and Storefront) but the user has the option to see it in transaction currency too.

Credit Card Payments at Transaction Currency

All payments are stored in BSS in account base currency, but for the credit card payments we keep also the amount in the transaction currency. This page explains how credit card payments in transaction currency are handled.

Reports and Notifications Fields for the Transaction Currency

The following fields have been added in our reporting and notifications engines for supporting the transaction currency functionality. The notification fields can be used in invoice print-out also for displaying an invoice in transaction currency.



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4 Comments

  1. Dimitra Tsiogka  epitelous teleiwsa!!!! des se parakalw ti exw grapsei mhpws moy leipei kati h exw xexasei kati

  2. Apostolos Karakaxas

    Εδω View Invoices in Transaction Currency αναφέρεις οτι "the transaction currency are calculated using the current exchange rate and these amounts cannot be changed". Το current καλυτερα να το βγαλεις, γιατι με μπερδεψε. Στη δημιουργια του Invoice παιρνει το current, αλλά μετά χρησιμοποιεί το invoice exchange rate. (το διευκρινιζεις μετά, αλλα νομιζω το current Καλυτερα να το βγαλεις invoice exchange rate στα σημεια που αναφερεσε στο τιμολογιο - να αποφυγεις τη λεξη current)

    Επίσης, αν θέλεις κάπου να προσθέσεις ότι για τα τιμολόγια τα οποία είναι partially paid, το  Unpaid amount ειναι το unpaid amount in base currency converted με το Invoice exchange rate (δεν υπολογίζεται ξανά, απλά το μετατρεπουμε στο transaction currency)

    Στα reports αναφέρεις ότι εμφανίζουμε τα πεδία τύπου "Amount($)"  και ότι το $ είναι το νόμισμα του BSS user, αυτό το νόμισμα στην πραγματικότητα είναι το currency που έχει πάνω του το ίδιο το report (το οποιο ερχεται by default ίδιο με αυτό του bss user στη δημιουργια, αλλά δεν είναι απαραιτητα αυτό.) Αυτο ισχύει μόνο για τα reports. Στις υπόλοιπες περιπτώσεις, πχ λίστα των τιμολογίων κτλ ισχύει αυτό που γράφεις, είναι δηλαδή το νόμισμα του user. 

    1. thanks! ekane tis allages pou proteines