How to Add Currencies and Exchange Rates

Your base currency is an important setting to configure when creating your Upmind account, as it affects your payment gateway and revenue reporting. With flexible currency control, you can expand your store’s reach to a global audience.

Base currency

Choose your base currency during setup, as it cannot be changed after the first invoice. All other currencies use exchange rates relative to this base.

Prices are set in the base currency, with other currencies calculated through automatic or manual rates, enabling global price display with automatic conversions.

Product pricing

Upmind allows flexible pricing for each product, supporting multiple currencies on a per billing term basis.

1. Manual Multi-Currency Pricing: Set explicit prices for each currency and billing cycle inside the product’s billing settings.

2. Auto-Convert Pricing: Enable automatic conversion based on current exchange rates.

Manage the currency from the payment providers

Currencies are added or removed by linking them to payment gateways, making them available as store currency options.

1. Log in to your Upmind account and go to Settings > Payment Providers under the E-commerce settings.
2. Add a new provider by filling out the required fields. Scroll down to the Currencies section.
3. Choose the currencies supported by the payment provider. These currencies will automatically appear in Settings > Currencies for exchange rate management.
4. Click Create to save the payment provider. It will then appear as an option on the client checkout page.

Manage exchange rates on Upmind

By default, Upmind auto-converts prices using current market exchange rates, providing quick and accurate currency conversions.

If you prefer to set exchange rates manually:

1. Go to Settings > Currencies under Brandings and Customizations.
2. For each currency, uncheck the Dynamic rate box to disable automatic updates.
3. Enter your preferred exchange rate manually.

Manual rates override the automatic market rates, allowing you to set rates that better suit your business needs. You can manage manual exchange rates in either direction relative to your base currency.

Paying an invoice in a different currency

Clients can set their preferred payment currency; otherwise, all documents will default to this currency. As an admin, you can enable this option under Settings > Payment Options.

Recurring price calculation

For recurring products or services, you can set price adjustments related to currency fluctuations. Click the field to choose:

• Keep the Original Rate: Prices remain fixed regardless of exchange rate changes.
• Recalculate with Current Exchange Rate: Prices adjust with each billing cycle according to the latest rates.
• Use Current Rates but Keep Price for Existing Clients: New clients get recalculated rates, existing clients retain their original pricing.

Auto-conversion of missing prices

Upmind can auto-calculate missing prices in other currencies using current exchange rates, keeping all prices updated without manual entry.

Client default currency

Each client has a default currency they see on your storefront and when placing new orders. Clients can change their default or override currency on their order forms.

Changing a client’s default currency will not affect existing subscriptions or contracts, which must be updated individually if needed.

Changing the currency of a service

Staff can update the currency of an active service from the subscription’s Settings tab:

• Navigate to the specific subscription.
• Scroll to the Change Currency section.

Updating the currency will close the existing contract and open a new one in the selected currency. The process will preserve contract due dates and provisioning information to avoid service disruption..