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Suggestions Currency and Prices
 
LorenzoG
Member
 
Total Posts:  36
Joined:  2007-09-02
 

I have testrun the latest beta and I feel Magento gets better and better smile

I have some suggestions. I don’t know if the Magento team have thought something about it.

1.
Normally a company is working with one base currency and accept other currencies as well. Precisely like Magento works. However, many times you have an extra cost for to receive/process another currency and if you use for example an import currency service, you get the trade values and not the factual rate.

I suggest that you add a field in the setting called something like “Currency Price Increment”. For example. If we set a value 1.02 , then it would mean that if a customer change to another currency than the base currency, all prices will change to selected currency and automatically calculated up 2%. In this way we get 2% more paid and can compensate the extra cost to process another currency.

2. Rounding.
I think Magento needs some kind of rounding system. It is special important when you use multiple currency. It doesn’t look professional when you for example use EUR as base and something cost 250 EUR and then an amercian buyer want look on the product in USD and see that it cost $348.23. It would have looked more professional if the price was presented as a cost of $348.

I guess this can be obtained in two way. Either (most easy in a programming way). A genereral rounding rule with for example the following options
No rouding
Rouding to closest .10
Roudning to closest .50
Rouding to closest 1
Rouding to closest 10
Rounding to closest 100
Rouding to closest 1000

If we want to do it in more correct way, the rounding rule should be connected to each currency the store use. This because each currency has it’s own currency base. For example. Lets say that we have an item that cost USD 200. We use two other currencys. British Pound and Japanese YEN.
It would then be 97.84 GBP and 23132.88 JPY.  With a separate rounding rule .. I might would then have selected rules so the following prices would have been presented 97.80 GBP and 23100 JPY.

I hope it makes sense.

One question. How relieable is a service as Webserviceex. You can imagine what happends if one currency are mixed up and you get wrong values.

Thanks for your hard work smile

- Lorenzo

 
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Michael_1
Enthusiast
 
Total Posts:  826
Joined:  2007-08-31
 

Hi Lorenzo,

One question. How relieable is a service as ...

We’ll encourage community developers to integrate with other exchange rate services and the tutorial how to integrate will follow soon.

… I feel Magento gets better and better

Thank you for your proposals and opinion, we hope Magento to become much more better release by release grin

 
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YoavKutner
Guru
 
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Total Posts:  491
Joined:  2007-08-08
 

Lorenzo - Number 2 is also in the works.

Thanks

Yoav

 
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