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Use alternative currency
Updated over 4 months ago

Your app allows you to select the alternative currency and apply it to converting invoices for particular members and companies.


Add an alternative currency

Follow these steps to add an alternative currency to your location:

  1. Go to the Locations > Settings page by pressing the "Settings" icon next to the location's name > Billing.

  2. Locate the "Alternative Currencies" section and press Add Currency.

    Adding alternative currencies on Spacebring's coworking space management platform

  3. Select the necessary currency from the drop-down and turn on the "Autoupdate Rate" switch if you want the currency rate to be updated automatically. Based on trusted data sources, the currency auto-update rate is renewed once per hour.

    Adding an alternative currency on Spacebring's coworking space management platform

You can also manually set the currency exchange rate by turning off "Autoupdate Rate" and typing the necessary rate below. You can add an unlimited number of alternative currencies to your location.

4. Press "Create" to save the change.

Apply alternative currency to invoices

Follow these steps to apply an alternative currency for companies and individual members:

  1. Navigate to the Locations > Community > click on the necessary user/company to open their profile > Billing.

  2. Enable the "Alternative Currency" toggle and choose the preliminary added alternative currency from the drop-down.

  3. Create a subscription to use invoicing.

How alternative currency works

  1. Your members and company managers view the invoice total on a Membership page in the primary currency of your location.

  2. The alternative currency appears on invoices only when the invoice is issued. The exchange rate applied to the invoice amount is taken according to the "Exchange Rate" when the invoice is issued.

Make sure to set the correct "Exchange Rate" before the invoice should be issued if you have turned off the "Autoupdate Rate".

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