Currencies
Currencies are the media of exchange. This is what you will receive from your customer for using your service. To conduct business activities properly, currencies are very important. SyncSwitch do support multiple currencies and it has no limitation on the number.
The policy of SyncSwitch currency is as following-
Ø There must be a base currency and all activity related to currency in the switch will be conducted according to that.
Ø For every other currency, there will be a conversion rate between the base currency and the other currency. Switch will do conversion if needed.
Ø Switch will do all calculation in base currency but will represent with various currencies as needed.
Ø SyncSwitch doesn’t have any intelligence to adjust currency rate automatically. You need to change the currency conversion rate whenever needed and Switch will do further calculations according to that.
Ø For example, if the base rate is USD, its conversion rate will be 1. Now if we want to add EURO as new currency, we will set the conversion rate as how much USD is available with 1 EURO. If 1 EURO is equal to 1.45 USD, we will set 1.45 as the conversion rate.
Currency link contains following two tabs-
i. All Currency
ii. Add Currency