We are a US based company with a website in the UK that collects GBP and a website in Norway that collects NOK. Our payment processors are Paypal and Stripe.
Currently our sales come into DEAR from our websites, DEAR then converts our sales from the foreign currency to USD, but it uses XE rates, which isn't what either Paypal or Stripe use.
Therefore the amount received in DEAR isn't correct and has to be manually adjusted. It caused a lot of extra work which is frustrating when we made this total switch to automate these tasks.
Could the developers at DEAR pull the payment processor actual information rather than just converting at DEAR's (XE) rates?
Thanks for the consideration.
Has there been any progress on this Kara?
We have been struggling with the same problem. Do you have a solution or work-around?
No, not that I am aware of. We do have a work around--sort of. I stopped Paypal from converting the currency on each sale so that the sales come into DEAR (and therefore Xero) in GBP. Once we accumulate a certain amount of pounds, I do a lump transfer to USD.
We don't do a ton of sales in Norway (yet) so we've been manually changing the conversion in DEAR before we sync to Xero. It's an annoying extra step, but once in Xero everything matches so that I can reconcile.
Let me know if any questions.