Step 1: Add a Sales Currency and Configure Exchange Rates

This section explains how to add more sales currencies to your marketplace so they become available for selection in service plans.

Before you proceed, make sure that all configuration prerequisites are met.

Who Can Manage Sales Currencies

Sales currency management is available only to certain accounts, which are:

• Providers.

• Operating units.

• Resellers with sales currency different than their parent's.

All these account types can have their own set of sales currencies and exchange rates and manage them independently.

How to Add a Sales Currency and Configure Exchange Rates

In currency manager you see the list of sales and customer billing currencies and set up exchange rates between those. At the start, there is only one currency configured as both sales and customer payment currency. Once you add at least one more sales currency, exchange rates setup becomes available.

To add a sales currency to your account, complete these steps:

1. Log in to the UX1 control panel.

2. Open Account > Currency Management.

3. Click Add Currency.
4. Find and select a currency to add.

5. Configure exchange rate between the added sales currency and the payment currency of your customers.

   • Specify the exchange rate if you plan to manage it manually. You can later change the rates of added currencies at any time.

   • If you want exchange rates to be updated automatically, do the following:

     Note: To use exchange rates auto-updates you need to configure the Open Exchange Rates plugin that is available by default or create and configure your own plugin for integration with any other external exchange rate source.
     

     1. Enable Auto-update.

     2. Choose the plugin to use for getting exchange rates.

     3. Decide on the update frequency: Daily, Weekly or Monthly.

        Note: Exchange rates updates will be performed in consideration with the date and time of the rate configuration. For example, if you have configured an exchange rate on Monday at 12:25 PM choosing to update the rates weekly, the next update will be on next Monday, after 12:25 PM.

6. Click Add.

After that, you can select this currency as a sales currency in your service plans.

Inheriting Sales Currencies and Exchange Rates

By default, child resellers that sell in the same currency in which they buy from provider, inherit the set of sales currencies and exchange rates configured higher in the distribution chain.

Note: If such resellers require an additional currency that is missing, they need to request their provider to add thecurrency and configure the exchange rates.

However, resellers and operating units stop inheriting parent sales currency configuration and rates if they update the sales currency configuration or an exchange rate. If this happens, they get their own, clean sales currency configuration. This new configuration becomes the one that their child resellers start inheriting.

Important: If a reseller stops inheriting currency configuration and starts managing their own, they must add all sales currencies used them and their child resellers. All necessary exchange rates must also be set up.