Currency conversion scenario

You can review a customer scenario in which a company needed to convert the currency from the country that the company is in to the country that the customer is in.

The following scenario illustrates how currency is displayed for an order. Suppose that a customer enters an order in France with an English company. The customer pays in Euro (the transactional currency). Sterling™ Order Management System Software converts the amount from Euro to pounds using triangulation through the Euro.

Because the order is placed in Euro, if a company employee in England displays the order, the order is displayed in Euro.

To allow auditing or reviewing of currency conversions, Sterling Order Management System Software stores the exchange rates for each order as an order attribute. When an order is entered, the software stores the exchange rate used between the transactional currency and the enterprise currency. If a conversion involves triangulation, Sterling Order Management System Software stores the composite exchange rate used between the Euro, the transactional currency, and the enterprise currency.