Currencies in YayPay
- business-level
- customer-level
- document-level
To preset your business-level currency go to Settings | Business and type in your required currency abbreviation (USD/GBP/EUR…) in the General Information panel.
Currencies in Aging report
The TOTAL DUE and balances for each customer in the Aging Report are displayed in the preset business-level currency:
The customer-level currency in Aging Report is hidden by default. To view it, click Select Columns, enable "Currency" and/or "Customer's currency balance", then click "Apply changes"
To view the customers operating with USD or GBP, in the Aging Report click the Filters button:
Then choose Customer Currency and select the required currency from the list.
Currencies on the Statement page
The TOTAL DUE on Statement page by default is given in the customer-level currency:
To view the Total Due calculated to business-level currency, go to Settings | Business and enable Use calculated Customer balance in the General information panel.
The document-level currency (invoice currency) on the Statement page can be viewed after you enable the Currency item in the Select Columns menu and click Apply Changes.
You can filter the invoices by invoice currency on the Statement page. To do this, click the funnel icon in the Currency column and choose the currency you wish to be displayed:
What currencies will be displayed on the Customer Portal? Why?
The TOTAL DUE on the Customer Portal is displayed in the customer-level currency (unless Use calculated Customer balance is enabled in Settings).
Alternatively, you can view TOTAL DUE on the Customer Portal in all currencies of the customer’s open invoices: go to Settings | Business and enable the following checkbox on the General information panel: 
Additionally, the TOTAL DUE on Customer Portal can be displayed grouped by transactions (payments, adjustments, credit memos) currencies: go to Settings | Business and enable Show Total Due grouped by transaction currencies on the General information panel:
What currencies are used in the rules engine, e. g. in Conditions?
When setting up rules for invoice events and using the CUSTOM CONDITIONS options related to the invoice amount, the amounts typed in the Value field are presumed to be in the document-level currency (invoice currency).
What currencies are used in the e-mail templates? Can it be changed?
When sending an e-mail reminder to a customer from the Aging report (Customer Email) or the form Statement page (Invoice Email), you can use a dynamic tag StatementBalance in the letter body.
The amount under StatementBalance will be displayed in customer-level currency (unless the checkbox Use calculated Customer balance is enabled in Settings: if enabled, the amount will be calculated to business-level currency).
For the StatementBalance tag to display the amounts in currencies grouped by invoice currencies, enable the Send StatementBalance tag by the invoice currency in the Settings:
Note
-
Send StatementBalance tag by the invoice currency should be enabled simultaneously with Show Total Due by the invoice currency:
- StatementBalance and StatementBalance Multicurrency dynamic tags are modified when Show Total Due grouped by transaction currencies is enabled. In this case, Send StatementBalance tag by the invoice currency and Show Total Due by the invoice currency can be disabled.
Alternatively, a StatementBalance Multicurrency dynamic tag can be used, which incorporates amounts in all the currencies grouped by invoices.
Can I Upload My Exchange Rates?
Answer: Yes.
The exchangeRate field is required in the invoice.csv file that is uploaded to the system. This field indicates the rate at which the invoice-level currency is converted to the business-level currency. If both currencies are the same, the exchange rate is 1.
However, entering 0 in the exchangeRate field in the CSV file will cause the system to fail in calculating bucket balances in the business-level currency on the Aging Report page. This will also impact the Total Due on the Statement page if Use calculated Customer balance is checked in Settings | Business.
Exchange rates can also be pulled from ERP (see the information in the respective articles in the Integrations and ERP Custom Fields Reference Guide).
Example
Invoice amount (in invoice-level currency) * Invoice exchange rate = Amount in business-level currency.
Examples
|
Invoice-level currency |
Business-level1 currency |
Invoice exchange rate |
The calculation of the amount in business-level currency |
1 |
CAD |
CAD |
1.000000 CAD to CAD |
100.00 CAD * 1.000000 = 100.00 CAD |
2 |
USD |
CAD |
1.358600 USD to CAD |
100.00 USD * 1.358600 = 135.86 CAD |
3 |
CAD |
USD |
0.736100 CAD to USD |
100.00 CAD * 0.7361 = 73.61 USD |
1 The business-level currency is your Company’s main currency.
How Often Are OANDA Rates Updated?
YayPay is updated with the exchange rates from OANDA (online broker service) on a daily basis. To be more specific, one daily candle for a currency pair is retrieved.
To use the OANDA rates, ensure the option under your Business Settings page, called Switch to multicurrency daily exchange rates is enabled.
Use Business Currency for Recurring/On Account payments
This setting is found under Settings | Business. Enabled by default. This option allows managing the currency used when making recurring/on account payments:
