Multi currency lets you set fixed exchange rates for vendors who operate in a different currency than your store's default. The rates apply to both synced products and orders. Multi currency is an add-on.
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Vendor Konnect settings - Multi currency
⚡ TL;DR
Multi currency is an add-on, so it must be enabled on your account first. Then go to Settings → Setup and configuration → Vendor Konnect settings, open the Multi currency tab, tick Enable multi currency, and click Add currency to set a fixed exchange rate, and an optional price rounding value, for each currency your vendors use.
Who this guide is for
Marketplace admins whose vendors sell in a different currency than the marketplace's default, and who want vendor prices converted at rates they set themselves.
Before you begin
- Multi currency is an add-on. It must be enabled on your account before you can use it.
- The vendor's store is connected through Vendor Konnect.
Step-by-step
Step 1: Go to settings and open Setup and configuration
In the left sidebar, click Settings to expand it, then click Setup and configuration.
Step 2: Open Vendor Konnect settings
In the list of settings on the left of the page, click Vendor Konnect settings. It sits near the bottom of the list, so scroll down if you can't see it.
Step 3: Open the Multi currency tab
The Vendor Konnect settings page has two tabs: Sync settings and Multi currency. Click Multi currency.
The tab is headed Currency exchange rates. It explains that you can set fixed exchange rates for vendors operating in a different currency than your store's default, and that the rates apply to both synced products and orders. Your store's default currency is shown in brackets at the end of that line, GBP in this example.
Step 4: Turn on multi currency
Tick Enable multi currency. It is already ticked in the screenshots.
Hover over the info icon beside the checkbox to read what the feature does. The tooltip shows your default currency, British pound - GBP (£) in this example. It explains that the page lets you create custom price listings based on different currencies or country translations, and that the currency conversion is reflected on both synced products and orders.
Step 5: Add a currency
Click Add currency, above the table on the right. In the pop-up, select the currency you want to add and set its fixed exchange rate. If you want synced prices to round off consistently, also set a price rounding value. Then confirm to add the currency to the table.
Step 6: Review your currencies
Each currency you add appears as a row in the table. The columns are Currency, Code, Rate (fixed), Price rounding and Actions. In the screenshot, for example, the United States dollar (USD) has a rate of 0.7376 and a price rounding value of 0.5.
When the list is longer than one page, the footer shows how many entries there are, for example “Showing 1 to 10 of 15 Entries”. Use the dropdown beside it to change how many rows show per page, and the page buttons, Previous and Next to move through the list.
Step 7: Edit or delete a currency
Use the icons in the Actions column. Click the pencil icon to edit a currency, for example to update its rate, and the bin icon to delete a currency you no longer need.
Tip: The rates are fixed, so they don't change on their own. Come back and edit a rate whenever you need it to match the current exchange rate.
Checklist
- The Multi currency add-on is enabled on your account
- You are on Settings → Setup and configuration → Vendor Konnect settings, on the Multi currency tab
- Enable multi currency is ticked
- Each currency your vendors use appears in the table with its Rate (fixed)
- Price rounding is set for any currency where you want prices to round off consistently
FAQs
Is multi currency included by default?
No. Multi currency is an add-on, so it must be enabled on your account before you can use it.
What does Enable multi currency do?
It lets you create custom price listings based on different currencies or country translations. The currency conversion is reflected on both synced products and orders.
Do the exchange rates apply to orders as well as products?
Yes. The rates apply to both synced products and orders.
Are exchange rates updated automatically?
No. The table shows Rate (fixed), so each rate stays as you set it until you edit it. Update your rates whenever you need them to match the current exchange rate.
What is price rounding?
Price rounding is an optional value you can set for a currency so that synced prices round off consistently. Each currency in the table shows its own value in the Price rounding column.
Are the currency exchange rates updated in real time?
No. The currency exchange rates for the multi-currency feature are not updated in real time.The rates do not automatically change when the actual market exchange rate changes. For now, the exchange rate needs to be updated manually whenever required.
Troubleshooting
I can't see the Multi currency options or the Add currency button
Check that the Multi currency add-on is enabled on your account, and that the vendor's store is connected through Vendor Konnect.
Converted prices look out of date
Rates are fixed and don't update on their own. Click the pencil icon in the Actions column for that currency and update its rate.
I can't see Vendor Konnect settings in the list
The list of settings on the left is longer than the visible area. Scroll down the list to find Vendor Konnect settings.
If you’re stuck, reach us at team@shipturtle.com or raise a ticket on the support page.