Currency management

Currency and Tax

Currency Setting

    Open the CMSClick Payment & CurrenciesClickthe tab Currency Setting. 

Currency Setting

 

The currency of the online shop payment

    Under [Display Currency], select the currency that your store can supportenter the corresponding exchange rate in [Exchange Rate]click [Save] below.

Set the display currency and exchange rate


    After saving, customers can change the currency of payment by clicking on the currency in the upper right corner when shopping in the Online shop.

Select the currency for the online store

 

The default currency of the online shop

    Select the default currency of the store from the default currencyclick "Save" at the bottom.

Default Currency

 

Decimal settings for online shop

    Select the rounding Total Type: by Order Total Amount or by Item Discounted price.
    by Order Total Amount:Rounding to decimal places based on the total price of the order.
    By Item Discounted Price:Rounding to decimal places based on the discounted price of the product.

rounding Total Type


    Enter the decimal number of the price of the commodity in [Decimal Point]select whether the commodity rounding is unconditionally Round Up, Round Down or Round Off.

Display thousand separator


    Turn on [Display thousand Separator] to display the thousands separator.

POS payment currency

    Under [POS Payment Currency], you can set the [Default Currency], [Decimal Point], and Decimal Rounding Method for different locations.

POS Payment Currency

 

 

Tax Setting

    Open the CMSClick Payment & CurrenciesClickthe tab Tax Setting.

Tax Setting

 

Set a tax rate

    Enter a flat tax rate.
    If you set a price that includes taxes, you can enable [Is the tax included in the product price].

Flat Tax Rate

 

Set up tax incentives

    Merchants can set their own tax incentives for some products.
    Click [Add specific product tax rate] to add a new tax benefit.

Add specific product tax rate


    Click [Select item(s)] under [Choose items] to add the products included in the offer, you can select a single product, or select a product of a certain category or brandenter the preferential tax rate for these products.

Choose items

Set country/region tax rate

    Company can also set different taxes and fees for different regions, but since the region where the regional taxes are set is obtained from the shipping settings, merchants need to set the regional shipping fees under Delivery - Delivery Charge before setting regional taxes, see playbook - How to set up shipping method and delivery charge.
    Company can set different taxes for different regions and choose whether to enable them.

Set country/region tax rate


    Click the on the right side of the region to open the edit page, and you can set the taxes and fees for that region more specifically.

country/region tax rate


    Under [Area], you can set different tax rates for specific regions within a region.
    Select and enter the tax rate of the corresponding region to set the regional tax rate.

Tax Setting


    On this editing page, under [Set Tax Benefit], click [Add specific product tax rate] to add a tax benefit for the region.
    In the same way as the general tax preference setting method above, click [Choose items] to add the products included in the discount, and you can select a category, a certain brand, or a single productenter the preferential tax rate for the discount.

Set Tax Benefit


    When you are done editing, click [Save].
    Note:
    1. The regional tax rate will be calculated only at the time of delivery. Taxes on direct sales and pick-up are calculated at the flat-rate/tax-preferential rate set earlier.
    2. If the delivery address is in a region where the regional tax rate is enabled at the time of delivery, the tax rate of the order will be calculated according to the regional tax rate, not according to the agreed tax rate/tax preferential yield set earlier. Only one of the two tax rate calculations will be applied to an order, and taxes will not be charged at the regional tax rate after the tax has been charged at the flat/preferential tax rate.