Our suppliers charge USD dollars and we charge our customers in CAD dollars. Can we use USD as the default system currency and CAD as customer currency or should everything be CAD dollars?
If I understand it correctly, using USD dollars as the default system currency, would allow me to upload rates in USD and the rates would be converted to the customer’s currency (CAD) during the origination rate calculation. Is that correct? What do you guys recommend as best practice?
Interesting, is that written somewhere? Im not sure it works this way as it would be pretty complex.
I got the idea from the below sql query in the log for customer #13 with CAD dollars currency. Seems to indicate that some type of conversion is happening from the USD base currency.
2023-12-17 22:34:34.447241 98.10% [DEBUG] switch_cpp.cpp:1465 [ASTPP] [DOAUTHORIZATION] Query :SELECT *,(select currencyrate from currency where id=currency_id) as currencyrate FROM accounts WHERE id = “13” AND status=0 AND deleted=0 limit 1
However, all of this is mute (for me) because the free fixer currency update does not work unless your base currency is EURO.
Also, the Administrator currency must be the same as the system Base currency or things don’t work which is a bit odd from a coding point of view as I don’t see the logic in it.
Yes database will work on base currency and when it display in GUI, it uses exchange rate and display value in customer currency.