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| When expanding globally, it is critical to be able to bill your customers in local currencies and process online payments for your international customers. The interworks.cloud platform allows you to define your pricing to multiple currencies and manage all aspects of billing and payment processing. |
Enable the Currencies you Want
To bill your customers in different currencies, you must first enable the currencies you would like to support. This is done through the setup area of the interworks.cloud platform. The administrator sets the 'home currency' with which reflects the currency of company's home country and he also also maintains the list of active currencies and their conversion rates relative to the home currency. Only active currencies can be used in currency amount fields.
Configure Your Product
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Catalog
When creating a product, the unit price can be defined in multiple currencies apart from the home currency. For each currency you can have different billing cycles for reflecting the way you sell in each country. Your price lists can be also in also be in various currencies. A price list can only include products that are available at price list currency.
Create Accounts with
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a desired currency
When creating an account, you can define an account's currency. Then, all quotes and orders for this customer will be in his the same currency. An account can only purchase products that are available at his that precise currency. When the customer accesses your Storefront, all prices will be will automatically be displayed automatically at customer's currency. If a product is not available at customer's currency, it will not be visible to himthat customer.
Generating an invoice for a foreign currency account is no different than invoicing in your home currency. The currency symbol on the invoice matches the currency selected on the customer account.
Reporting
For financial reporting, all currencies are converted automatically are automatically converted into your home currency using exchange rates that are either retrieved by a web service in on a daily basis or are added manually by you, manually.