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How does Inventory Planner handle different currencies?
How does Inventory Planner handle different currencies?

Order from vendors in different currencies, currency is displayed in Inventory Planner reports, and how currencies are converted.

Monica avatar
Written by Monica
Updated over a week ago

What currency is used for your account?

The base currency for your account is automatically detected through the API to your store. When you have connected accounts using different currencies, the default currency will tie to the first platform connected.

Where do different currencies show in Inventory Planner?

All sections of Inventory Planner other than Purchase Orders show in your base currency. Cost prices shown on the Replenishment and other reports for your variants are converted into the store currency.

Purchase Orders can be customized to the currency of your supplier. You can designate a currency for your supplier in the Catalog > Vendors section.

Note: If a vendor currency is different from the base currency, the cost price value that we pulled from your platform will follow the vendor currency. Any report page will then show the converted value to the account's base currency.

From Catalog > Vendors, select 'Settings';

On the Vendor Settings page,

Select a currency from the dropdown options. 

Finally, Save Changes at the bottom of the screen. 

Vendor currency can be updates for several suppliers at one time using Bulk Actions. On the Catalog > Vendor page where you see all vendors listed, use the checkboxes on the left to select which suppliers to update. Then click Bulk Actions at the bottom of the screen, and finally Set Currency.

Click Apply to save changes.

You can also change the currency when creating a purchase order. In edit mode of your purchase order, click on Settings and scroll down to see the Currency field.

How are sales in different currencies converted in Inventory Planner?

Inventory Planner connects to to retrieve up-to-the-minute currency conversion rates. Data is retrieved from banks and financial data providers. Exchange rate information used is the midpoint of the Bid and Ask.

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