Selling across borders.
WHAT THE OPTIONS ARE
Charge in one currency everywhere Charge in local currencies Charge in one currency with local display
WHAT ONE CURRENCY PROVIDES
Simplicity in accounting and reporting.
WHAT IT COSTS
Customers bearing conversion and unpredictable amounts.
WHAT LOCAL PRICING PROVIDES
Prices that make sense in each market.
WHAT IT REQUIRES
Deciding rates, and maintaining them Handling accounting across currencies A payment provider supporting them
WHAT NOT TO DO
Convert prices at the current rate automatically.
WHY
Prices then move constantly, and appear arbitrary.
WHAT TO DO INSTEAD
Set deliberate prices per currency, and review periodically.
WHAT PURCHASING POWER MEANS FOR PRICING
A price reasonable in one market excludes an entire market elsewhere.
WHAT REGIONAL PRICING ACHIEVES
Access to markets that would otherwise not buy.
WHAT IT RISKS
Customers purchasing through the cheapest region.
WHAT REDUCES THAT
Verification of location, applied proportionately.
WHAT TO RECORD FOR EVERY TRANSACTION
The currency, the amount, and the rate applied.
WHY
Reporting and tax both require it, and reconstructing it later is impossible.
WHAT TO REPORT IN
One currency, consistently, with the basis stated.
