Re: Exchange rates

This WebDNA talk-list message is from

2000


It keeps the original formatting.
numero = 31924
interpreted = N
texte = In the US, there are accounting rules about exchange rates; at least here, you need to establish an official source that is used at a specified interval to update the conversion rate. For example, the International edition of the New York Times on the first Monday of every month. I would recommend trying to get in contact with a Canadian CPA to see how they do it up North.The one thing you will quickly discover is that the prices will look wrong for one currency over another. For example, a book might be priced at $19.95 and CAN$29.66. You need to decide which country is likely to be the majority customer and display accordingly. We have a British distributor which receives their prices from us once a month. I actually strip the cents off of the US$ and drop that on top of the converted price, so for my above example, I would actually display CAN$29.95. Good luck doing that in WebCat.I suspect that the way that Canadian laws are probably structured, the CPA is going to tell you exactly how you _have_ to do it. If you are in Quebec, you may even need to do a French language version as well :(HTHJohn PeacockChristopher Mackay wrote: > > Hi all, > > I'm starring a site that's based here in Canada, and needs to be able > to offer shoppers the choice of shopping in Canadian or US dollars. > > The real issue is exchange rates. All pricing will likely be based on > US wholesale costs (in $US), with the Canadian pricing based on a > conversion rate calculation, which would of course be hidden from the > customer. The thing is, do we log on every morning and set the > exchange rate manually (global variable), or is there some > authoritative site we could automatically extract this rate from > (Visa, Royal Bank of Canada)? > > Or do people normally just set the exchange rate up as being > essentially fixed (at a narrow margin) -- adjusted on a weekly > basis, for example -- with a disclaimer which says 'you'll be charged > whatever rate of exchange Visa's using today'? > > Or should everyone be shopping in $US? Even Canadians. That's > obviously the easiest solution, but not the most desirable by a long > shot... > > Regards, > > Christopher Mackay, Multimedia Developer > Tantramar Interactive, http://www.tantramar.com/ > 506/364-1097 cell: 364-7659 fax: 536-2409 > > ------------------------------------------------------------- > This message is sent to you because you are subscribed to > the mailing list . > To unsubscribe, E-mail to: > To switch to the DIGEST mode, E-mail to > Web Archive of this list is at: http://search.smithmicro.com/------------------------------------------------------------- This message is sent to you because you are subscribed to the mailing list . To unsubscribe, E-mail to: To switch to the DIGEST mode, E-mail to Web Archive of this list is at: http://search.smithmicro.com/ Associated Messages, from the most recent to the oldest:

    
  1. Re: Exchange rates ( "Chris List Recipient" 2004)
  2. Exchange rates ( Daryl Mitchell 2004)
  3. Re: Dynamic Exchange Rates (Alain Russell 2002)
  4. Re: Dynamic Exchange Rates (Stuart Tremain 2002)
  5. Dynamic Exchange Rates (Tim Robinson 2002)
  6. Re: Exchange rates (Nicolas Verhaeghe 2000)
  7. Re: Exchange rates (Michael O Shea 2000)
  8. Re: Exchange rates (John Peacock 2000)
  9. Exchange rates (Christopher Mackay 2000)
In the US, there are accounting rules about exchange rates; at least here, you need to establish an official source that is used at a specified interval to update the conversion rate. For example, the International edition of the New York Times on the first Monday of every month. I would recommend trying to get in contact with a Canadian CPA to see how they do it up North.The one thing you will quickly discover is that the prices will look wrong for one currency over another. For example, a book might be priced at $19.95 and CAN$29.66. You need to decide which country is likely to be the majority customer and display accordingly. We have a British distributor which receives their prices from us once a month. I actually strip the cents off of the US$ and drop that on top of the converted price, so for my above example, I would actually display CAN$29.95. Good luck doing that in WebCat.I suspect that the way that Canadian laws are probably structured, the CPA is going to tell you exactly how you _have_ to do it. If you are in Quebec, you may even need to do a French language version as well :(HTHJohn PeacockChristopher Mackay wrote: > > Hi all, > > I'm starring a site that's based here in Canada, and needs to be able > to offer shoppers the choice of shopping in Canadian or US dollars. > > The real issue is exchange rates. All pricing will likely be based on > US wholesale costs (in $US), with the Canadian pricing based on a > conversion rate calculation, which would of course be hidden from the > customer. The thing is, do we log on every morning and set the > exchange rate manually (global variable), or is there some > authoritative site we could automatically extract this rate from > (Visa, Royal Bank of Canada)? > > Or do people normally just set the exchange rate up as being > essentially fixed (at a narrow margin) -- adjusted on a weekly > basis, for example -- with a disclaimer which says 'you'll be charged > whatever rate of exchange Visa's using today'? > > Or should everyone be shopping in $US? Even Canadians. That's > obviously the easiest solution, but not the most desirable by a long > shot... > > Regards, > > Christopher Mackay, Multimedia Developer > Tantramar Interactive, http://www.tantramar.com/ > 506/364-1097 cell: 364-7659 fax: 536-2409 > > ------------------------------------------------------------- > This message is sent to you because you are subscribed to > the mailing list . > To unsubscribe, E-mail to: > To switch to the DIGEST mode, E-mail to > Web Archive of this list is at: http://search.smithmicro.com/------------------------------------------------------------- This message is sent to you because you are subscribed to the mailing list . To unsubscribe, E-mail to: To switch to the DIGEST mode, E-mail to Web Archive of this list is at: http://search.smithmicro.com/ John Peacock

DOWNLOAD WEBDNA NOW!

Top Articles:

Talk List

The WebDNA community talk-list is the best place to get some help: several hundred extremely proficient programmers with an excellent knowledge of WebDNA and an excellent spirit will deliver all the tips and tricks you can imagine...

Related Readings:

Access Denied! But why? (1997) Requiring that certain fields be completed (1997) [ListFiles] from a remote host (2003) WC2b15 File Corruption (1997) (1997) [ShowIf] and empty fields (1997) possible, WebCat2.0 and checkboxes-restated (1997) Add a field to the error log? (1997) webmerch and serials - almost there (1997) PCS Frames (1997) WebDNA problem (2006) [WebDNA] v7 Stress Test and Strange Behaviour (2012) How to set triggers (1998) Apache 2.2 (2007) Couple of questions (1999) WC Database Format (1997) policies, slightly OT (2004) getting images' width/height (1998) switching users (1998) page chokes on hideif when false and ignored (1998)