Managing Exchange Rates

One of the major challenges of selling in multiple currencies is managing exchange rates. Thankfully, Uphance manages exchange rates out of the box, allowing you to focus on what matters the most: selling.

The automatic exchange rate only works when you are selling to customers using currencies different from your home currency. These rates are pulled in real-time, and so are accurate. Interestingly, you can manually input your rates if you see the need to do so.

The best part is that you can also add exchange rates manually via channels and currencies. We will show you how to go about it shortly.

Just to let you know, the exchange rate feature is only available on selected plans. Kindly confirm with support to know if it's available on your plan.

Furthermore, the exchange rate feature applies in four places, namely:

If a sales order is in a currency different from your home currency, Uphance will automatically show the exchange rate the moment you confirm the order.

To manually input your exchange rate values, follow the steps illustrated below:

If you are paying a vendor in a different currency, the exchange rate will automatically apply once you generate a payment.

Exchange rates are also displayed on the WAC history for products.

You will also find exchange rates on projected revenue reports.

Note: The Projected Revenue Report isn't available on all plans. So be sure to check with support if it's available on yours.

While we pull exchange rate data in real-time from reputable sources, we understand you might want to add these rates manually for sales orders.

To do so, open the channels and currency settings and add a rate as shown below.

In the example above, we set $1 to equal 56 Philippine Pesos, and this will apply between the 25th and 28th of November. After this period, the exchange rate will revert to automatic.