The Internet is global and so is the subscription business model. As you grow your subscription portfolio internationally, chosing how currencies are handled becomes important. Upodi is build on a native multi-currency engine, for handling subscriptions and charges. This article is aimed to give more details how to manage your subscriptions with multiple currencies.
### **How Upodi looks at currencies**
Currencies are mapped to product plans. You can choose different currency strategies on each product plan or product plan family (read below), but the main driver of currencies is the product plan.
Every company tenant have a base currency. This currency is default enabled, and set once you setup your tenant. Enabling additional currencies is easy and once enabled, they become available across the whole company. Navigate to:
_Currencies_ enable the required currencies.
Security is required
Managing and changing currencies require the administrative privileges.
### Hierachies of the currency selection process
Matching currencies is done by the Upodi billing engine. By looking at the desired currency preference of the customer.
If a match to the given product plan is found, the customer will be invoices in that desired currency. If no match is found, the base currency of the product will be used, as a default fall back option. The currency will be passed all the way through the payment gateway and even to underlying finance solutions like Dinero, E-conomic, XERO or QuickBooks.
Product plan currency.
Customer currency preference.
### How invoices and transactions are handled
Every customer has a currency preference (default currency). All currency settings on the platform, is based on the currency preference of the customer.
The Upodi billing engine will try to match the product plan currency settings with the customer currency preference. If a match is made, the currency of the customer is used for the subscription at hand. If a match cannot be established, the default currency of the product plan overrules the final currency of the subscription. Subsequently invoices will be issues in the currency set of this match.
|Customer Currency||Product Plan Default Currencies||Product Plan Currencies||Invoiced currency|
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