Overview
For organizations with sales, inventory or purchase orders in different currencies, Toolio has out of the box support for currency conversions. Multi-currency support is handled through defining an organization currency and making sure that all currency values imported into the system are converted to the organization currency.
For the rest of the article, we'll refer to the organization currency as organization currency and the foreign currency as local currency.
Configuration
Organization currency can be set up in the Settings > Organization > Settings section. Please see below
Once the organization currency has been defined, all imported currency will be converted to that currency, and all planning will be done in the organization currency.
Integration
Each of the Toolio data feeds support the following fields. These fields can be provided in the data feeds to guide Toolio with the currency denominations and conversion rates (if specific rates are desired) to use. Few things to note:
Out of the box integrations like Shopify, NetSuite automatically infer the currency used, so no additional work is required.
If the exchange_rates are not provided, Toolio uses the daily exchange rate corresponding to the date of the metric in the feed (e.g. timestamp in sales and inventory feeds, delivery_date in purchase order, etc.)
Field | Example | Details |
cost_currency | CAD | The denomination of the cost metrics in the feed.
Assumed company currency if not included |
retail_currency | GBP | The denomination of the retail metrics in the feed.
Assumed company currency if not included |
cost_exchange_rate | 1.3 |
Daily rate is taken if this is empty |
retail_exchange_rate | 0.7 |
Daily rate is taken if this is empty |