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' which reflects the currency of company's home country and 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 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 also be in various currencies. A price list can only include products that are available at price list currency.

Create Accounts with 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 the same currency. An account can only purchase products that are available at that precise currency. When the customer accesses your Storefront, all prices will automatically be displayed at customer's currency. If a product is not available at customer's currency, it will not be visible to that 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 automatically converted into your home currency using exchange rates that are either retrieved by a web service on a daily basis or are added by you, manually.