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- Currency. The name of the currency, preferably in English that as many customers as possible can read it.
- ISO code. The currency's three-letter ISO 4217 code. See this Wikipedia page: http://en.wikipedia.org/wiki/ISO_4217.
- Numeric ISO code. Its three-digit code ISO 4217 code. Same Wikipedia page as above.
- Symbol. The currency's symbol, if any. See this Wikipedia page: http://en.wikipedia.org/wiki/Currency_sign.
- Exchange rate (or Conversion rate in earlier version). This rate is to be defined according to your shop's default currency. For example, if the default currency is the Euro and this currency is dollars, type "1.2931", since 1€ usually is worth $1.29 31 (at the time of this writing). Use the converter here for help: http://www.xe.com/ucc/.
- Formatting. Set up how you want your price to be displayed. The X corresponds to the currency's symbol. You have five possibilities.
- Decimals. You can indicate whether your shop should display decimals. While you may choose to have all your prices be a round number, discounts and other price variations might warrant decimals. You can prevent them with this option.
- Spacing. Once you have chosen the currency's formatting, you can choose whether to have a space character between the symbol and the price itself. Some languages require this. For instance, Spanish people would use "50€" whereas French people would use "50 €". Choose whichever you feel is best.
- Enable. Any currency can be disabled at any time, both from its own edit page, and the currencies table on the "Currencies" page.
- Shop association. You can make the currency only available to a selection of your shops, for instance shops that target a specific locale.
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Taxes are a complex subject, which should be fully understood as it can have a significant impact on your product prices or your shipping fees. While this user-guide is not meant to teach all the ins-and-outs of taxes, we will try our best to give you pointers. Taxes are "compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions". In short, every product you sell is subject to sales taxes, which depend on your state's tax laws. In effect, you contribute to your state or government functioning (public goods and services) with a percentage of all your sales, as defined by local tax rates. There are hosts of tax rates in the World, and they vary considerably from one country to another, and even within a single country if it has federal states (USA, Germany, Spain, Russia...). You should therefore make sure to strictly conform to your country's tax laws, and even those of your state or town if they apply to you. Check with your local tax representative as soon as possible in order to get all the official details. |
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