Setting up currencies is an integral part of your process of setting up with TradeGecko as it affects almost every part of your interaction with the app. Setting up your currencies can be split into two main parts;
- Setting up Your Base Currency
- Using multiple currencies
Multiple Currencies
Selling/buying in another currency requires you to have a price list in that currency. These price lists work just like regular price lists (such as cost, retail, wholesale, etc); they are a list of prices that you sell/buy your products - only in this case, the price list is in another currency.
Once you have a price list in another currency, you can use it to conduct Sales (for sales price lists) or Purchases (for cost price lists). Find out how to create a price list with a currency.
Once you have created a price list in another currency you can create Sales Orders and Purchase Orders in multiple currencies!
To create a Sale in another currency, you will need to change the currency in the Sales Order first.
Next, pick the price list that you want to use for the Sales Order.
If you want, you can choose to skip this step. However, if you have already added prices for your products on any particular price list, this step is very useful.
Enter the products that you want to sell into the Sales Order.
In this case, the product that we want to sell already has a price on our selected price list. Hence the price will be automatically generated.
If there is no suggested price, you can enter a price for the product. You can also adjust the suggest price if necessary.
Done!