If you're a business that works in multiple countries, or just different currencies, OneUp has tools to easily handle displaying revenue data in a single currency, converting them all on-the-fly.

OneUp also gets information on the latest and historic exchange rates, so no matter when you log your revenue, OneUp will always give you an accurate conversion.

During setup of the OneUp platform, most of our clients are given a default form of currency handling, which is designed to be as robust as possible. However, your currency conversion on our platform may be bespoke, and this would have been discussed during your setup. You can refer to your onboarding document for this information (your OneUp champion - the person leading the OneUp project in your business - should have this to hand).

There are two types of revenue metric on OneUp - variable, and fixed currency. The difference between the two types is as follows:

This metric type assigns your incoming data a currency code (usually taken from the record itself, but other times, hard-coded) which allows it to be converted into other currencies, if needed. This means that changing your currency setting on your user profile will change the perceived value of revenue in this metric.

Fixed currency metrics do not take into consideration the currency of revenue arriving into the metric. Metrics of this type will simply read the value of the currency only, and display them with the chosen revenue symbol (which is configured in the metric settings).

You have two revenue metrics on OneUp, both configured to look at the same data. One is a variable currency metric, the other is a fixed currency metric.

A member of your team adds a 10,000GBP fee to your system, which OneUp picks up.

The variable currency metric will see that the fee is in GBP, and record this. Because you are currently viewing the platform in GBP, this value shows as £10,000.

The fixed currency metric is configured to display revenue in GBP. Therefore, this metric also shows a value of £10,000.

You decide to change your viewed currency to USD. You go back to view the data in both metrics, and notice a difference - the variable currency metric now displays $12,800 (assuming a 1.28 exchange rate). However, the fixed currency metric still displays £10,000. This is because it does not consider user currency changes.

OneUp's currency conversion system allows accurate conversion of past, current, and future revenue.

When OneUp sees a revenue record, it considers a couple of things:

OneUp uses a tool called CurrencyLayer to obtain information on every exchange rate, every day, at 00:01. This means that for any given day, OneUp knows exactly what the exchange rate is for all sixteen currencies it supports.

Using this information, by default OneUp will apply the exchange rate as it was on the date your performance appears to give you the most accurate revenue estimation.

When future performance is considered (i.e. for revenue that hasn't been made yet), OneUp will use the latest exchange rate (today's), until it gets an exchange rate for that day, and that record has been update by you in your CRM. Let's use an example to explain both points:

A fee is 'booked' (approved by your business) today with a value of 10,000USD. Your current currency setting is set to GBP, so when converted, on OneUp, within your 'Booked Revenue' metric, this fee has a value of £7,800, at an exchange rate of 0.78.

The fee will be invoiced (paid) in three months' time. Because OneUp doesn't know the exchange rate in three months into the future, it uses today's, so in your other 'Invoiced Revenue' metric, the value of the fee is also £7800.

The three months roll around, and OneUp gets the updated exchange rate. It's now changed to 0.88. The invoiced amount will continue to show £7,800 until you update the placement in your CRM. When that happens, with the new information, OneUp updates the 'Invoiced Revenue' amount to £8,800.

If this is the case, the first thing to do would be to check if your metric is a variable or fixed metric, by going to the Metrics page in the settings menu at the top right of OneUp and finding your metric there. You can then use the information in this article to figure out what might have happened.

If you still require help on this topic, get in touch with our support team via the chat. We'll be happy to help! 💙