Change currency

[Hoza]

Hello,

I would like to change my currency from CAD to USD for compatibility with a few apps. My only issue is that I've already made sales.

[Cal]

Hi @Hoza! 

Cal here from Shopify, thanks for reaching out to us. I'd be happy to assist with your currency switch. There are quite a few things to consider when you've already made sales, so please think carefully before making the change. 

This feature is locked in the admin if you have already made sales, even a test order. The reason for this is so you can reach out to our support team and chat with us about the effects this will have on your business if you were to change currencies after sales have been made.

• Reporting: With changes between currencies, our reporting doesn't factor in the difference between currencies. So if you had €500 processed, that would show as €500 in reports. Say the next day, you switch to USD, the report would still read as €500 for previous processing. Since €1 is not equal to $1USD, the reports, in theory, will be wrong going forward.
  
  
• Product Pricing: Since the dollar amount between currencies is not the same, a product price’s value, could mean something different if the currency is adjusted and impact your margins. For example - €20, is not equal to $20 USD. Refunds processed after a currency change will also be affected by the currency change.
  
  
• You will have to manually reprice all of your products.
  
  
• Apps: Some apps may have limitations when it comes to changing the selling currency. In your case, this would work in your favor, as you are looking to use apps that are compatible with your new currency. However, also consider your existing apps. If you would like to know how changing the selling currency will affect your apps, you will need to reach out to the App partner to clarify before changing their selling currency.

Let me know if you still want to go ahead with the currency switch, share your MyShopify URL here, and I'll email the account owner with further information.

Thanks! 

[KBetterReports]

Hi Hoza,

Kritesh here from Better Reports team. I believe this is where our app Better Reports can help as well.

We can report sales and transaction for each currency and if given a conversion rate (or a monthly conversion rate), we can report them as a integrated report as well.

In your case, the reporting could all be in USD and we could convert the CAD Sales/Transactions basis given rates.

I encourage you to install Better Reports and start your free 14-day trial and I'll be happy to set this up for you.

Let me know how you go and feel free to reach out if you have any further questions.

Disclaimer - I am part of Better Reports support team.

[Hoza]

The link is hoza-cosmetics.myshopify.com. Thank you so much

[Cal]

Hi @Hoza! I've emailed the account owner with more information on switching currencies.

Thanks! 

[haileyclaire]

Hi @Cal! I need to change my store currency from USD to ZAR in order to accept online payments. I have had my first sale already. I read up on and understand all the implications that a currency change will cause, and would still like to proceed.

Here's my store URL: urban-gloww.myshopify.com  

Thanks!