Changing Currencies on POs, Vendors, and Globally

Overview

What are Global Currencies?

Because SoStocked helps you to manage your inventory, including Purchase Orders, shipping costs, COGs, etc., we have included a new logic to convert the default setting of USD currency to any currency in the world.

If you have been using SoStocked for some time, and you have used the USD currency but you are actually paying your suppliers in another currency, you can now switch everything over to your correct currency and SoStocked will even figure out the correct calculation based on current exchange rates.

If you are new to SoStocked, then simply follow these instructions to set up your currencies based on suppliers, marketplaces, etc.

Setting Your Default Currencies

Starting on the Settings page, click on "Default Currency Settings". Scroll to the bottom and select your default currency. For example, if you typically run your business out of the UK, then you would likely set the default currency to the sterling pound, or GBP.

You also have the option to make your vendors' purchase orders and cost/unit use this currency.

Make sure to save and update. SoStocked will convert your USD default to the chosen currency using Google's exchange rate calculator for today's exchange rate.

Different Currencies for Different Vendors

If you have multiple vendors in multiple countries and they are using different currencies, you can do that too.

Start on the Vendors Page in SoStocked, then choose your selected vendor.

When you save those changes, it will ask you a couple of questions. You must select whether you would like SoStocked to convert the currency using today's exchange rate, or simply to keep that number but only change the symbol for the new currency.

Changing Currencies on a Purchase Order

You can edit the currency for a single PO by going to the orders page, searching for that PO, then editing the currency and saving changes.