Currencies
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Last updated
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Whether you operate in one or multiple currencies, Bunny is able to support your business.
The base currency is configured under Other > Settings and specifies which currency your business operates in. For example, most U.S.-based businesses operate in U.S. Dollars and most businesses in the European Union operate in Euros. The base currency is primarily used for currency conversation.
The currency table lets you control the order in which enabled currencies are shown in currency dropdowns throughout the user interface. For currencies other than your base currency, you can also specify how you want conversion to happen.
Fixed - the foreign currency is converted using a onversion rate. You may wish to use this option to protect against losses when dealing in highly volatile currencies. Let's say your base currency is USD and the EUR conversation rate is 1.2. This will convert 100 EUR to 120 USD.
Real-time lookup - the foreign currency will be looked up in real-time using .
The currency specified on an account determines which currency products can be quoted in. For example, if an account has EUR as its currency, it can only be quoted and subscribe to plans that have pricing in EUR.
If your business is selling to customers in both the United States and Europe, it may make sense to have price lists in both currencies so that the pricing looks "nice", for example 10 USD/month and 10 EUR/month.
When Bunny generates an invoice for an account that uses a foreign currency, Bunny will use the conversion rate on the currency setting to record the base currency amount expected to be paid.
For example, if an invoice is for 100 EUR and your base currency is USD, using the fixed exchange rate of 1.2, Bunny will record 120 USD as the amount expected to be paid by the customer after conversion from EUR.
Once the customer pays the invoice, Bunny will record any conversion gain or loss.
