Hey, @minksoexotic!
Ryder here from the Social Care Team at Shopify. Thanks for posting! If you haven't yet made a sale or test order you'll be able to change your store selling currency in your Admin by going to General settings > Store currency and toggling to the currency of your choosing.
Already made a sale? No problem! You can still contact our Support Advisors to help with unlocking your currency settings. Before doing so, it's important to note the impact that switching currency will have on your account. If you're using a third-party payment provider, you'll also want to confirm with them about selling-currency eligibility.
The main impacts of switching currencies include:
Reporting
Our reporting won't factor in the difference between currencies. This means if you've already made sales in one currency - $500 USD, for example - it would remain the same number after switching to the new currency (ie. $500 CAD). Because on USD dollar isn't equivalent to CAD, the reporting moving forward would be inaccurate. You can mitigate this by setting a date range to begin after the date of the currency switch when reviewing data to exclude any transactions that would've been processed in the previous currency.
Product pricing
Similarly to your analytics, the value of the currency exchange won't be captured in your product pricing after making the switch. This means you'll need to be sure to adjust product pricing manually to factor in the correct value. Any refunds processed after a currency exchange will also be affected.
Apps
Some apps may have limitations when it comes to changing a selling currency. If you have any questions in regards to whether changing your currency might affect any of your apps, you'll need to speak with the app developers.
Gift cards
Any gift cards your customers might have with remaining balances in the old selling currency will not work once the selling currency has been changed. If you have any customers with remaining balances on their gift cards, you can simply issue them a free gift card with the correct value in the new currency after having made the switch.
Shipping
Your store's shipping rates won't change currency either. After making the change, you'll need to delete your existing rates and add them back in manually to list them in the correct currency.
Currency rules
If you offer a currency option with a manual foreign exchange rate and rounding rules setup, those settings will be locked if you then change that into your shop currency. You'll need to revert that currency back to automatic foreign exchange rates with no rounding rules before making the change.
Other
It's also a good idea to review all of your product pages, themes, and other areas of your store for currency information that may need to be updated. I'd also recommend reviewing our currency conversions and risk guide for more information should you be converting currencies.
If you're comfortable with all the above impacts and ready to make all the suggested adjustments, contact our Support Team and we can look at guiding you through the next steps! Hope this helps, and please let me know if there's anything I can clarify.
Cheers.
Ryder A. | Social Care @ Shopify
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