We’ve recently enhanced our platform to allow users the ability to view and configure multiple currencies in a single workspace with our latest feature, Multi-Currency.
Multi-Currency gives admins the ability to configure multiple currency settings in their workspace, allowing reps to view their earnings and payouts in their local currencies.
Admins can easily update currency values within minutes, however frequently, and avoid any need for manual conversions.
How To Manage Your Currencies
If you're an admin looking to configure this new feature, you’ll need to navigate to Settings within the QuotaPath Dashboard. From there you’ll go to Preferences where you’ll see the new Manage Currencies button.
Clicking Manage Currencies takes you to the Currency Manager where admins can easily manage and update currencies moving forward.
If you click +New Exchange Rate in the top right-hand corner you’ll be given the option to add a new currency, set the exchange rate, and set the date range for the exchange rate.
After you select your currencies, enter the exchange rate, and select the date range you’ll click Save to set your new exchange rate.
After saving you’ll navigate to the Members tab to set your user's local currency in the dropdown under Currency, next to the user's name. Once the profile currency has been set it will carry over to any new exchange rates.
Users will now automatically see their Earnings and Payouts data displayed in their local currency.
A few things to note:
If no rate is set for a given time period, the previous exchange rate that was used for the preceding time period will be used.
For example, if Euro was set to 1.5 in July but did not have a rate for August, it will set Euros for August to 1.5 as well since that was the most recent exchange rate that was set.
If an exchange rate time period overlaps with another time period, you will receive a warning that the most recent set exchange rate will be used for the overlapping time period
For example, let’s say an exchange rate for Euros is set to 1.5 for all of 2022. If an admin goes in and adds another exchange rate for Euros of 1.4 for the time period Q4 of 2022, it will use the last used exchange rate that was set. In this case, you'll receive a warning that it will be using the most recent exchange rate that was set for the overlapping time period. Which in this case is an exchange rate of 1.4 for Euros.
If you have any other questions, please don't hesitate to reach out to us!