Multi-currency in pixi allows you to handle orders, invoices, payments and items in any currency. Biggest advantages of multi-currency in pixi are the ability to localize your shop and expand to other regions that use different currencies, provide pricing in a currency that international customers understand and feel comfortable with, and the ability to use sales platforms which operate in a different currency (Amazon UK, eBay UK)

With pixi Multi-currency you can:

Import item prices and orders in any currency.
Create manual orders in any currency.
Create invoices in any currency.
Handle payments, credits, refunds, returns in any currency.
View reports in shop currency or home currency (for all shops).
Use API calls that support multi-currency.

Requirements for Multi-currency
- Shop connection must be adapted for Multi-currency
- Invoice templates should be adapted (if currency was hard coded on templates until now)
- E-mail templates should be adapted (if currency was hard coded on templates until now)
- Your pixi must be updated to AVA Update 7 (See also: Data migration for Multi-currency)
- Multi-currency must be enabled in pixi settings (requires license - please contact pixi Support).

Terminology used for Multi-currency in pixi

In pixi, and especially in the user documentation, we use specific terms to refer to certain functionalities that are connected to the multi-currency features. To prevent any confusion, all important terms are explained here.

Term	Description
Home Currency	Home currency is the pixi database currency. It is set once for the pixi database and is not changed afterwards. It is usually set to the currency that is used in the country where your company is registered. Currently it is used for reporting (also OLAP), in cases when orders, invoices, payments, etc. in different currencies are displayed on the same report. This way it is possible to compare values without manually calculating between currencies. *Note*: Supplier orders, offer management and the POS are currently only available in the home currency.
Shop Currency	Shop currency is the currency set for the specific shop in pixi. Usually it is set to the same currency as the home currency, but if you have a separate shop in a foreign country, it can be different. Conversion of amounts in other currencies on orders, payments, invoices, etc. is always made to the shop currency, for example, to show the customer account balance and in most of the reports.
Order Currency	The order currency is the currency of the customer order and can be any currency. This term is also used for invoice, credit, return etc., which is connected to the original customer order.
Payment Currency	The payment currency is the currency that the customer paid with, i.e. that was imported to pixi Payments application. It can be any currency.
Exchange Rate	This term refers to the exchange rate, which is used to convert amounts in different currencies on orders, payments, invoices, etc. to the amounts in the shop currency.
System Exchange Rate	The system exchange rate is the exchange rate that is automatically imported to pixi from ECB each day.
ECB	= European Central Bank. It is the default source for the system exchange rate.
Active Currency	A currency is active in pixi when it can be selected in currency drop-downs in pixi applications. Active currencies are initially set when you update pixi to AVA 7. These currencies are: all European currencies and other mostly used world currencies. Additionally, an inactive currency will become active when an order is imported in an inactive currency for the first time.
Event Currency	The event currency refers to the currency of the event (invoice, payment, etc.) in the customer account.
Parent Currency	As it is possible that the same currency is used as the official currency in more than one country (e.g., EUR in most of the EU countries, USD in some Central American countries), the "original" one is marked as the parent currency (for USD that is the record where the country is USA). pixi only uses the parent currencies when connecting orders with exchange rates, i.e. if an order was imported for shipping country Haiti, the currency ID for USD from USA is taken. This is important if you are using the pixi API to get or edit pixi data because the API calls mainly use currency IDs.

How Multi-currency works in pixi?

This is the overview of how multi-currency works in pixi applications, functionalities and features.

1. Exchange rates

System exchange rates are imported from ECB every day at 2:00 PM. The Exchange rate that is imported today is used the next day. ECB does not provide exchange rates on TARGET2 holidays, which includes all Saturdays and Sundays and specific public holidays. This means that the exchange rate imported on Friday, is used on Saturday, Sunday and Monday. It also means that for specific public holidays the exchange rate from a day before is used. If there is a temporary problem with importing the new exchange rate from ECB, pixi will try to import the new exchange rate every 15 minutes.

These exchange rates are imported daily, exchange rates for other currencies are imported monthly (on the last day of the month) and are valid for the whole next month.

2. Items

One price per each currency per item can be imported from the shop. This means that an item in pixi can have prices in several currencies. In web pixi, prices are displayed on the Item Prices tab in the item object. In pixi desktop applications Item Prices tab is displayed in the Item Info.

3. Orders

Orders are imported from the shop in order currency, which can be the same as the shop currency in pixi or it can be any other currency. Exchange rate for the order can also be imported from the shop. If your shop doesn't send the exchange rate pixi uses the system exchange rate for the order. Exchange rate used is saved with the order.

4. Invoices

Invoices are created and printed in the currency of the original order. System exchange rate, which is valid on the day of invoice creation, is used and is saved with the invoice.

New variables are available for invoice templates: Exchange rate from shop currency to order currency for the invoice, Order currency code, Shop currency code and Invoice total in shop currency.

5. Automatic E-mails

New variables are available for pixi e-mails: Shop currency code, Exchange rate from shop currency to order currency for invoice, Order currency code, Order total in shop currency, Invoice total in shop currency and Invoice total in shop currency for reminders.

Exception Switzerland: If home currency is set to Swiss Francs (CHF), then "Money" values are displayed as follows:

6. Payments

Payments from banks and PayPal can be imported in any currency and can then be matched (pre-matching, automatic matching, manual matching) with orders or invoices in the same currency. If currency is not provided in the imported bank file, you can set it manually in the Payment Import wizard - step Add Files (See: Import bank files). PayPal Live Import always provides currency for payments.

When information is exported to DATEV all amounts are in the order currency. Additionally, pixi also exports the exchange rate.

7. Customer Account

Events in Customer Account are displayed in the event currency and in the shop currency. Exchange rate for the shop currency is also displayed. You can create customer account events in different currencies. You can match customer account events if they are in the same currency. Customer balance and open orders total are displayed in the shop currency if customer account events or customer orders are in different currencies.

8. Reports

Most of the standard pixi reports are adapted to support multi-currency. This means that usually reports are re-calculated to the shop currency (if a report was generated for the specific shop) or in the home currency if a report was generated for all shops.

Controlling report Item Turnover in web pixi gives you an overview of turnover in any currency. See: Item Turnover Report

9. API

API calls were modified and they support the multi-currency functionality. Backward compatibility was preserved. See also: API changelog

Before and after the Implementation of Multi-currency Functionality

This section is important for all pixi users, even if they don't use the multi-currency functionality.

In this table, you can learn what has changed in pixi after the multi-currency functionality was implemented in AVA Update 7. You can also see what has changed in AVA Update 7 (compared to AVA Update 6) if you don't use multi-currency.

Functionality in pixi	AVA Official to AVA update 6	AVA update 7, multi-currency OFF	AVA update 7, with multi-currency ON
Shop currency	Not defined (home currency is used).	Shop currency can only be the same as the home currency.	Shop currency can be different per shop.
Item (selling) price - saved in the database	Only in the home currency.	Only in the home currency.	In multiple currencies.
Currency of an imported order	Two currencies possible: Home currency + original order currency (when provided)	One currency: Order currency. The amount in the shop currency can be calculated using the provided or the system exchange rate.	One currency: Order currency. The amount in the shop currency can be calculated using the provided or the system exchange rate.
Currency of a manual order	Home currency.	Home currency.	Any active currency (selectable from the drop-down list).
Item price used on a manually created order	Home currency.	Home currency.	In the order currency. Saved price of the item in the order currency is used if exists (if it was imported with item import), otherwise item price in the order currency is calculated from the price in the home currency.
Import of payments - bank files and HBCI	Home currency. Even if currency is provided, it is ignored.	Home currency. Even if currency is provided, it is ignored.	Currency from the bank file is used (can be different per payment in the file).
Import of payments - PayPal	Home currency.	Provided currency.	Provided currency.
Import of payments - Credit Card	Hard-coded EUR.	Order currency.	Order currency.
Matching of payments to orders/invoices	Currency is not checked, matching is done only by the amount.	It is only possible to match payments to orders/invoices that are in the same currency.	It is only possible to match payments to orders/invoices that are in the same currency.
Automatic matching and pre-matching of payments	Currency is not checked, matching is done only by the amount.	Payments and orders/invoices have to be in the same currency.	Payments and orders/invoices have to be in the same currency.
Customer Account	Events in the Customer Account have no currency.	Events have currency. The customer balance and the total of open orders are displayed in the shop currency. When there are events in mixed currency in one customer account, the exchange rate 1 is used for calculation from the order currency to the shop currency (which means that the balance is wrong).	Events have currency. When all the events are in the same currency, then the balance is also displayed in that currency. When events are in mixed currencies, then the balance is calculated to the base currency of the shop, using the current (today's) exchange rate.
Matching of events in the Customer Account	Possible to match everything since the events have no currency.	It is only possible to match events in the same currency.	It is only possible to match events in the same currency.
Create New Event in the Customer Account	Events in the Customer Account have no currency. Manual invoices and credits are created in the home currency.	New events can only be created in the shop currency, except when "Match with selected event" is set, then the currency from the original even is used.	New events can be created in any active currency.
Refund - SEPA Credit note: according to the SEPA rule, all the transactions have to be in EUR.	The amount to refund from the credit is used. Currency in the SEPA Credit file is hard-coded EUR.	Currency on the credit is ignored, only the amount is used. (e.g., refund for 100 GBP = SEPA credit for 100 EUR).	The amount to refund is calculated into EUR from the currency that is used on the credit. (e.g., refund for 100 GBP = SEPA credit for 130 EUR).
Reminders	Home currency.	Reminder for one invoice is created in the same currency as the invoice.	Reminder for one invoice is created in the same currency as the invoice.
Reports	The values are summed, with hard-coded EUR as the currency.	The values on the reports are NOT re-calculated. Some of the reports display the order currency, other display home currency. see the Reports and Multi-Currency section for details.	Some of the reports show the values in the shop or in the home currency, properly calculated from the order currency. Other reports show the amounts in the order currency (e.g., list of invoices...) see the Reports and Multi-Currency section for details.
Supplier Prices	Home currency.	Home currency.	Home currency.
Supplier Orders & Deliveries	Home currency.	Home currency.	Home currency.
Offers	Home currency.	Home currency.	Home currency.
POS	There is no currency used in POS. The reports display the "windows locale" currency. The currency on the invoice template can be hard-coded (if not, then it also uses the "windows locale" currency).	There is no currency used in POS. The reports display the "windows locale" currency. The currency on the invoice template can be hard-coded (if not, then it also uses the "windows locale" currency).	There is no currency used in POS. The reports display the "windows locale" currency. The currency on the invoice template can be hard-coded (if not, then it also uses the "windows locale" currency).

FAQ for Multi-currency in pixi

Can I import exchange rates from my online shop?

Yes you can. In this case, when the online shop sends the exchange rate to pixi with the order import, it is important that the shop currency set in pixi is the same as the currency set in the online shop.

I want to change the shop currency for my shop in pixi. How can I do this?

You can't. You must create a new shop.

Can I change the home currency?

You can't.

I established the company and the online shop in a foreign country, but this shop will be connected to the same pixi database I use for my main online shop. Should I set my shop currency to the currency of the foreign country or not?

Yes, you should set your shop currency in pixi to the currency of the foreign country. Mainly because you will need all accounting data in the currency of the country where your new company is located.

Can I modify exchange rate manually?

At the moment it is not possible to modify exchange rates manually.

Can I use a different source for the exchange rates?

Currently the only possible source for the exchange rates is the ECB. In the future, it will be possible to use another source (API, URL), either for a single shop or for system exchange rates.

I run my business in Switzerland, my home/shop currency is CHF. Where are the exchange rates from CHF to other currencies obtained?

The source is still the ECB. The exchange rates CHF to other currencies are calculated from the EUR to other, using the EUR to CHF rate.
Example: on 29.7.2015, the EUR to CHF rate is 1,0659 and EUR to USD rate is 1,1025. To get the CHF to USD rate, pixi divides the EUR to USD rate with the EUR to CHF rate and then saves 1,034337179 as the CHF to USD exchange rate.

Note: the exchange rates are calculated with precision of 9 decimal places.