How QuickBooks Commerce handles Shopify Multi Currency

As of December 2018, Shopify Plus merchants will have the ability to sell in multiple currencies with Shopify Payments. With this feature, Shopify will automatically detect a customer’s country, and offer prices in that customer’s local currency - an experience that will carry on through checkout. This pricing will automatically adjust based on foreign-exchange rates, and display buyer-friendly prices with simple rounding rules. This update will support 9 key currencies at the time of launch, which includes: AUD, EUR, JPY, SGD, USD, CAD, HKD, NZD, and GBP.

In this guide:

• Understand Multi-Currency with Shopify Payments
• Understand how QuickBooks Commerce will handle multi-currency shop

Understand Multi-Currency with Shopify Payments

Merchants who use Shopify Payments can enable customers to pay in their local currency during check out. When a customer selects a currency, all prices on the online store and checkout are automatically converted to the selected currency. Merchants can enable the currencies that they would like to offer to customers from their Shopify Payments settings.

The introduction of multi-currency means that the currency the merchant sees may not be the currency that is displayed to the buyer. For example, a merchant in the US will have their shop prices displayed in USD, but a shopper in Japan will see those prices displayed in Japanese YEN.

To see more details on this feature, check out Shopify Plus resource here.  

Understand how QuickBooks Commerce will handle multi-currency

Before enabling the Multi-Currency feature for your Shopify store, make sure you’ve added all currencies to QuickBooks Commerce to avoid pending order as below, as seen in the example below:

When you enable Multi Currency for your store, you’ll start seeing orders coming in the local currency, based on where your customers come from. For example, here’s an order being paid in local currency with Japanese Yen:

In QuickBooks Commerce, you won’t have to make any changes to your Shopify settings, besides adding your currencies within the QuickBooks Commerce General Settings. We will automatically import the Sales Orders, Discounts, Shipping, Invoices, and Payments in the local currency.