Multicurrency Sales

Accounting for currency transactions: how to sell goods in dollars?

According to the law, cash payments in foreign currency are not allowed in Ukraine.

However, such situations occur, for example, in resort towns with many tourists or in wholesale purchases. To ensure customer convenience, business owners allow payments for goods in foreign currency.

In Torgsoft, a seller can accept payment in any currency using the «Multicurrency Sales» option — the customer can pay in any currency at the checkout, and the amount is instantly converted.

Accounting for currency transactions when selling goods includes:

• Selecting the default currency for payment,
• Paying for a single receipt in any currency or a combination, for example, hryvnia and dollar,
• Calculating the payment amount based on the national currency exchange rate,
• Calculating change in both the national currency and the payment currency.

Exchange rates: how is currency converted?

At the start of the working day, the seller must set the exchange rate in the accounting program.
If the rate is not entered, the program will prompt for it during the first payment and will automatically apply it thereafter.

We recommend setting the rate with more decimal places to minimize conversion losses.

Feature of the «Multicurrency Sales» option

In the Torgsoft program, finances are recorded in the national currency — the program automatically converts the received currency into the national currency.

Report on purchases of goods in foreign currency

The report on currency sales in Torgsoft will display sales, payment amounts in the national and actual currencies, and the total for each currency in the cash register.

Limitations of the «Multicurrency Sales» option

«Multicurrency Sales» is incompatible with the additional «Gift Certificates» option — payment with a gift certificate will not be possible.

Requirements for using the option

• Torgsoft license Ultra or Terminal, starting from version 7.6.4.
• The «Multicurrency Sales» additional option.

How to set up and work with the «Multicurrency Sales» option.