Multi-Currency
If your business uses more than one currency, you must configure multiple currencies as part of your initial accounting setup. This lets you create transactions for foreign customers and vendors with whom you do business. The currency used to manage your company's financials is called the base currency, and other currencies used by customers and vendors are called foreign currencies. With NetSuite OneWorld, each subsidiary can have a separate base currency, which is used to manage the subsidiary's financials.
To set up Multi-Currency for your Commerce site:
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Enable the Multiple Currencies feature. See Enabling the Multiple Currencies Feature.
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(Optional) Define additional currencies in NetSuite. By default, CAD, EUR, GBP, and USD currencies are available in NetSuite. To define additional currencies, see Creating Currency Records.
Note:Ensure that you select the correct default locale on the currency record to avoid errors related to currency mismatch. For example, select New Zealand (English) as the default locale for New Zealand Dollar.
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Set the base currency for your subsidiary as described in Setting a Base Currency.
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Configure the exchange rates so that the prices are dynamically updated based on the shopper’s default currency. See Adding Rates to the Currency Exchange Rates List.
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Associate your Commerce site with a subsidiary. You can associate multiple subsidiaries with a Commerce site. However, only the subsidiary selected as the default shows up on the website. See SuiteCommerce and OneWorld.
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Set the chosen subsidiary’s base currency as the default currency. Prices are displayed in the default currency for new shoppers visiting your website.
To set the currencies for your website, do the following:
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In NetSuite, go to Commerce > Websites > Website List.
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At the bottom of the Shopping tab, click the Currency subtab.
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In the Default column, select the radio button for the default currency. Also, ensure that the box is checked in the Online column.
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In the Online column, select the box for each currency in which you want to display item prices on your website.
The selected currencies appear in the Currency Selector list, which allows a shopper to switch from the default currency to other available currencies.
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Click Save.
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Shopper Currency Selection
Guest shoppers and registered shoppers who have not yet placed their first order can choose their preferred currency from the Currency Selector list. Prices on the website are shown in the currency they select.
After registered shoppers place their first order, the currency of the order becomes their default currency. Prices on the website are shown in their default currency and they can no longer choose a different currency from the Currency Selector list.