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Topic: Currency Equivalents on Booking Contracts
Joined: Dec 13, 2012
Topics: 4   Replies: 9
Posted by orlandomkvillas on Apr 16, 2014 03:43 AM:    

Hi john
We have many NON US renters and would like to know how I could set up my contracts to give the guests an indicative local currency amount. I don't want it change my base currency but have an option to include an exchange rate which would then convert to another currency on the booking contract or quote which is sent to the guest ?
this would help




John Amato
Joined: Jan 30, 2009
Topics: 118   Replies: 750
Posted by John Amato on May 27, 2014 09:16 AM:    

Would this need to be something that is looked up in real-time? From some kind of internet service that provides real-time currency conversions?


Joined: Dec 13, 2012
Topics: 4   Replies: 9
Posted by orlandomkvillas on Jun 5, 2014 04:39 AM:    

That could be an idea ? Whatever is simple to implement i would say ?


Joined: Apr 11, 2014
Topics: 16   Replies: 30
Posted by abracasa on Jun 24, 2014 02:17 AM:    

We can take bookings in one currency ie £(GBR) through a US Website $USD to be paid out in INR to Owners.
My base rate is in GBR (no need to change this) so i enter the quoted website figure in $'s into my booking forms, using an on-line currency converter (This rate is invariable different to what the Bank actually converts to though)
This is not a problem as long as i remember to change it to GBR upon completion.
There are many variables, Currency exchange rates fluctuating between Date /Quote and final booking payments, then there are different Card charges. The percentages are different for all countries ie India to USD is different than GBR to USD. I then incur charges to send the money from UK to India etc.
None of this matters except that the Price for the vacation and the Price received can and always be different, sometimes I gain , sometimes i lose.
What would be helpful is a check-box similar to the one for "security deposits paid out". I would then use this when I make my initial input to Booking Amounts to remind me to edit these figures to my actual RECEIVED Monies rather than the figures i quoted at the onset. I would do this by editing the Booking Amounts.
A real-time currency conversion would not help here as again the difference between dates the vacations are booked / and final payments made would change the amount quoted / received.

Clear as mud



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