Contact person: Adjusting Multi-Currency POS System

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Location: Worcester, United States

Budget: Recommended by industry experts

Time to start: As soon as possible

Project description:
"What is Multi-Currency in POS (Point of Sale)?

Multi-currency in a POS system means the software can accept and process payments in more than one currency.
Instead of forcing all sales into a single default currency (e.g., USD), it allows both the business and customers to deal with different currencies (e.g., USD, EUR, GHS).

How it Works Step by Step

Base Currency Setup (Default Business Currency)

The business owner chooses a base currency (e.g., USD).

All financial reports, accounting, and profit/loss are usually stored in this base currency.

Enable Multiple Currencies

In settings, the admin enables extra currencies (e.g., EUR, GBP, GHS).

Each currency can have:

Exchange rate (fixed manually or updated automatically via an API like OpenExchangeRates, Visa, or Forex).

Symbol and formatting ($, €, ₵).

At the Point of Sale

When a customer is ready to pay, the cashier can select the currency the customer wants to use.

Example:

Item Price in base currency (USD): $100

Customer wants to pay in Ghana Cedi (GHS).

Current rate: $1 = ₵15.

System automatically converts: ₵1,500.

Rounding Rules

Some POS systems apply rounding rules depending on local laws or currency decimals (e.g., Japanese Yen has no decimals).

Receipt Printing

The customer’s receipt shows:

Item price in local currency (e.g., ₵1,500).

Equivalent base currency for accounting (e.g., $100).

Exchange rate used.

Accounting & Reports

Even if the sale was in GHS or EUR, the system records it in both the customer’s currency and the base currency.

Example:

Sale in EUR = €90

Recorded in system: €90 (customer currency) and $100 (base currency).

Example in Real Life

Let’s say you own a shop in Ghana using a POS with multi-currency:

Base Currency: USD

Supported Currencies: USD, GHS, EUR

A European tourist comes in to buy shoes:

Shoes price (base currency): $50

Current exchange rates:

$1 = ₵15

$1 = €0.90

If the tourist pays in EUR:

POS shows: €45

Receipt prints both: €45 (customer payment) and $50 (base record).

Accounting reports still balance in USD.

Note: the system is already setup and working. you just have to do small adjustment to make it work." (client-provided description)