This screen displays a Currency and it's properties.
Name: |
Enter the name of this Currency that will be displayed on all Commerce Pages
and selectable to the Customer.
For Example: "US Dollars". |
Base: |
Check this box if this is the standard Currency that your business operates around. There can only be one base Currency. The base Currency will be the Currency that you use to enter amounts, in the control panel. It will also be the default Currency that will appear to Customers on commerce Pages. When an Order is completed, the amount that is sent to your payment service/gateway will be in the base Currency, even if a Customer selected to view prices in a different Currency. Also, the payment service/gateway will be instructed by this system to complete the transaction in the base Currency. You will need to check that your payment service/gateway supports your base Currency. This system will send Currency info to most of the popular payment services/gateways via their API's. In general this system will probably support any base Currency that your payment service/gateway supports, however please see exceptions below.
Please be aware that this system assumes the base Currency has a format with 2 decimal places (e.g. $1.99). This system might not work for you if your base Currency does not support decimal places or has more than 2 decimal places. The system does not keep track of the base Currency that was in use when an Order was completed. It assumes that all Orders were placed with the current base Currency. In other words, once you change your base Currency, past Orders will show the same old total value, but show the new base Currency symbol, so the amount might appear to be incorrect. Because of this, you should not change your base Currency often. |
Code: | Enter this Currency code that will be stored and exported with the Order
data. For Example: "USD". It is important to enter the correct, internationally recognized, standard code for the Currency, because this code may be sent to your payment service/gateway. |
Symbol: | Enter the symbol for this Currency. For example: "$". You may enter the HTML code for an HTML entity if necessary (e.g. "€"). |
Exchange Rate: | The current rate of exchange for this Currency, as compared to your base
Currency. Your base Currency should always have an exchange rate of "1". TIP: Use the "Update Exchange Rate" button on the "All Currencies" screen to update this value instantly. IMPORTANT: Don't alter this value by hand unless you are sure that it is not being updated automatically. |