How to change preferred currency for an Organization

Introduction

This article guides Customers through the process of changing their Organization's preferred currency. It explains how to select a new currency, when the changes take effect, and important timing considerations for purchases and invoicing.

In this article:

• Select Preferred Currency
• Save and Confirm Currency Change
• Understanding Currency Display and Pricing

Customers can select a preferred currency for their Organization. This allows you to view prices and receive Invoices in your chosen currency instead of the Seller's default currency.

Select Preferred Currency

To change your Organization's preferred currency:

1. Login on Customer Organization's behalf.
   
2. Navigate to your Organization's information section
   
3. Scroll down to find "Preferred Currency"
   
4. Select the Edit icon (pencil)
   
5. New pop-up window will display.
   
6. Choose your desired currency from the dropdown
   
7. Select the "Save" button
   

Save and Confirm Currency Change

After pressing the Save button, a pop-up window will appear with the following message:

Select the Confirm button to proceed with the currency change.

Once confirmed, your Organization profile will display both your current currency and the upcoming currency change.

Understanding Currency Display and Pricing

If you select a preferred currency (for example, USD), you will see converted prices in USD for all Offers starting from the 1st day of the next month. However, if you make a purchase before the 1st, Invoices will be issued in the new currency already.

In the product catalog, prices will be displayed in brackets showing the converted amount. Select the info icon to see an explanation of why the price is different and how the price has been converted.

Limitations

Preferred currencies can be changed and set to Seller currency multiple times in a month. However, the changes will take effect on the user interface and Invoices starting from the 1st day of a new month and will consider the last preferred currency selected.

For example, if you change the preferred currency on the 15th day of a month and purchase an Offer on the 16th day of the month:

• During purchase, the Offer configuration page will use the former preferred currency
• Next month's Invoice for that Offer will already be in the new preferred currency chosen on the 15th
• Starting from the 1st, all prices on the Platform will be displayed in the new preferred currency

This implementation ensures proper handling of currency updates while Invoices are being generated and loaded into the Platform.

Summary

Customers can change their Organization's preferred currency at any time, with changes taking effect from the 1st day of the following month for display purposes. Purchases made after selecting a new currency but before the 1st of the next month will show in the old currency during checkout but will be invoiced in the new currency. You can revert a scheduled currency change by selecting your current currency again before the effective date.