Currency Conversion

Last Updated: Nov 13, 2018 07:08AM PST
If you enter purchase orders in a currency other than your account default, you can enter an exchange rate so that inventory costs are converted to your default currency. 

Note: This feature is available only on our latest version, Stitch X.

Selecting a currency

When creating or editing a PO, you can specify purchase order currency using the Currency dropdown:
Once a currency is selected, the PO and its ship notices will display costs and totals in that currency code.

Setting the exchange rate

When you select a PO currency other than your account default, an exchange rate field will appear on the Ship Notice Create/Edit:

Stitch supports up to 4 decimal places when entering exchange rates.

To convert PO unit costs into your default currency, Stitch multiplies the ship notice unit cost by the exchange rate you enter.

Note: Stitch stores converted costs for later use in reporting. While the selected currency's ISO 4217 currency code will update in-app, numeric values won't visibly change.

Entering costs

Aside from manually adding unit costs in-app while creating a PO, unit costs can be added three ways:

  1. Auto-filled with a variant's default supplier cost (recommended) or default PO cost entered and saved in-app.
  2. Auto-filled with default supplier cost entered and saved via the Supplier Association CSV.
  3. Auto-filled with PO-specific cost uploaded via the Import Purchase Order CSV.

For any of these, enter a variant's supplier cost as if it were in the preferred currency, keeping in mind that you'll still need to select the supplier's preferred currency in-app while working with the PO. 

Adding cost in-app the variant's Suppliers tab or uploading via the Supplier Association CSV save a persistent supplier cost to the variant, but using the Import Purchase Order CSV sets only a one-time cost for the specific PO you're creating.