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Two currencies in the book: what’s the total in dollars?

Two currencies in the book: what’s the total in dollars?

Once you know what each person owes, the next question is the shop’s: how much is out there altogether? You can’t add riyals to pounds. A dollar total is for you — not for their statement.

After “how much does this customer owe?” a shop that takes two currencies asks a second question: how much is out there altogether? You cannot add riyals to pounds. You pick a base — usually dollars — so you can see one total.

That dollar figure is not a live ticker, and it is not what you print on their statement if you deal with them in pounds. Each entry stays in the currency you actually took. The dollar total sits to the side so you can decide.

A weekly rate from your market is enough. A line with no currency ruins any total. If everything is already in dollars, don’t add a conversion you don’t need. See how much they owe.

In Kaymn entries stay in their currency; the USD equivalent is for you — start the trial.

FAQ

What is the USD equivalent?

A single number for you: what the mixed currencies are worth in dollars, using a rate you keep for the week. Each entry stays in the currency you actually took.

Do I need a live exchange rate?

No. A rate from your market, left alone for a week, is enough. Changing it every hour does not make the book more honest.

Do I show that dollar number to the customer?

No. They should see the currency you sell in. The dollar total is so you can decide, not so they can argue about the rate.