The Transaction Currency Converter in Book4time once enabled, will allow the property to maintain the prices of Spa Services and Products in a global currency like the US Dollar and during check out the system will convert the service and/or product price to local currency. This way, even if the price is in USD the guest can pay using the local currency.
|This feature allows you to accept different currencies at point of sale. The Cash Register will then be left with those different currencies at end of day. System Reports will still reflect the main base currency your system is set up with.|
The rationale of the Transaction Currency functionality is for International Spa's to maintain prices of their menu in a global currency. However, spa customers/guests will be paying in local currency not in USD. For the property to avoid losses on daily fluctuation of local currency vs dollar, Book4Time can maintain a Currency Converter and Transaction Currency will automatically convert the services and products prices to local currency during checkout.
The Spa is suggested to update the Book4time Currency Converter on a regular basis (daily) based on the actual currency rate so that the system will capture the conversion during checkout.
Follow the procedure below if the functionality will be used.
Navigate to Admin > System Settings > Global Preferences > Exchange Rates > Transaction Currency Setup Tab.
The following fields are explained as below:
- Active: Identification if the Transaction Currency Conversion is enabled.
- Transaction Currency: This is the currency that the system will use to convert the current prices.
- Conversion Rate: The rate that the system will use. Example: If the service price is at 100 USD, the system will convert the service price automatically to 4,550PHP during checkout.
This function is only applicable if their spa business process require this kind of operations. Keep this function disable if not in use.