Xero Sync allows you to export from Shopify to Xero using the Store Currency or the Local Currency on the settings page.
Example
- The Store Currency is the currency of your primary market and what is used in your Shopify admin.
- The Local Currency is the currency used by the customer at checkout.
Read more about how Shopify handles these currencies and exchange rates on Shopify's help center.
Alert: When using local currency, any currencies that exist in Shopify but not in Xero are automatically created when an export is performed. This is irreversible. Read more about how Xero handles multi-currency on Xero's support center.
Orders using Store Currency
When an order is placed and paid in a non-primary market, an invoice is created in Xero equal to the price listed on the Shopify Orders page in the shop's currency. Bold uses the transaction in Shopify to pay the balance of the invoice in Xero. Due to fluctuating markets, the exchange rate can be calculated with a slight difference from the actual transaction. When this happens, Bold creates an adjustment line to compensate for the difference in order to mark the order as fully paid.
Example
Orders using Local Currency
When an order is placed and paid in local currency, the exact amount paid in Shopify will be exported to Xero, with no rounding adjustments.
Example
Refunds
Because exchange rates can vary at different times, there can be a slight discrepancy between what was originally paid and what was refunded. This discrepancy is shown as a Net payment in Shopify. This is the difference between the amount paid on the invoice and the cash refund on the credit note in Xero.
Read more about currency conversion risks when performing refunds on Shopify's Help Center.