Multi-Currency feature allows you to accept cash transactions in other currencies. In this article you can find the most frequently asked questions about this feature.
The currencies are updated using openexchangerates.org
The auto-updater will sync the exchange rates twice a day (day 01:00 PM GMT/ night 01:00 AM GMT).
If the auto-update is OFF, the exchange rate will not be changed unless manually.
- Existing transactions remains the same - the system will not recalculate posted transactions
- Future transactions, the system will apply the new exchange rate
Example:
The following transactions were posted on the same reservation, but the second one was posted after changing the exchange rate - Note that the first transaction was not recalculated after the modification.
No. Multi-Currency does not affect the booking engine rates or connected channels - The custom currency exchange rates will only impact cash transactions posted on Cloudbeds PMS by property users.
- The prices displayed on the booking engine will be converted to other currencies using the standard exchange rate fed by openexchangerates.org.
Please check the following article to learn How to Set Custom Conversion Rates for OTAs.
Deactivating a foreign currency will not impact your existing transactions, it will only prevent your users from being able to post new payments using that currency moving forward - For further details, check the following article: How Edit or Deactivate Foreign Currencies
At the moment it's not possible to make refunds in foreign currencies - the system only allows you to process refunds in the system default currency.
Example:
Let's suppose that you have Brazilian Reais as your Default Currency and the following transaction (R$ 20,00) was added in Dollars ($3,63):
When you click to Refund Payment, you will be able to add the amount using the system default currency only:
Once you refund the payment, you will see the following information on the guest's folio:
You can see the transactions in all currencies by accessing the Cashier Report.
At the moment, other reports (Daily Revenue Report, Transactions Report, Daily Financial Report, etc) will always show the transactions in your property's default currency, the same when using the option Email or Export To (PDF or Excel) in the report.
Yes. Please check the following example:
The Morning Shift cash drawer was closed with a remaining balance due of $5,87
When a user opens the above cash drawer, the system will display the foreign currency as shown below. You may adjust the balance in each currency as necessary.
On the other hand, if a cash drawer was previously closed with 0.00 balance, the system will not display the foreign currency when opening the drawer. Example below, only the default currency is displayed.
The same rule applies to a brand new cash drawer.
All the Multi-Currency content can be found here.
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