Changing the base currency (article)

Susana Moleón Moya
Susana Moleón Moya
  • Updated

Changing the base currency of your TourCMS account is - unfortunately - quite a complex thing to do. For this reason, it's not something that you have access to change within your TourCMS login, however, we can make the change for you.

Remember you can easily apply currency conversion on your existing sales prices for online / staff/trade made bookings (in Configuration > Channels > Sales prices, deposits & booking fees). Further information about a multi-currency setup

Why change the base currency?

If you are viewing this page it's likely one of two things has happened:

  • #1 - You created an account with the incorrect currency (to start with) (Deleting all bookings etc is possible)
  • #2 - Your country changes currency (You wish to retain your existing bookings etc)

If at all possible it would be easiest if you created a new account with the correct base currency. Sign up form.
If that is not possible, please read on.

Why isn't it simple?

Lots of things in TourCMS are entered using on the base currency as a starting point:

  • Tour/hotel & option prices are configured in your base currency
  • Exchange rates are calculated FROM your base currency to other currencies
  • Fixed commission values (e.g. 5 USD rather than a %)
  • Fixed markup values (e.g. 10 USD rather than %)
  • Fixed deposit (if set on tour/hotel/option)
  • Fixed lead-in price (if set on tour/hotel)
  • Each existing booking has agent commission and profit margin calculated in the base currency. All booking components are priced (internally) in both the sale and the base currency

What are my options?

  • As mentioned above, the simplest option would be to sign up for a new account, especially if you have recently created your account, or do not have much data in it.
  • Alternatively, we can change your base currency for you, as this involves manual work on our part, please contact us for a quotation.

If you ask us to change your base currency

We will:

  • *IF* a test account, we will remove all bookings
  • Remove the exchange rate entries in your exchange rate setup. If you have multiple Channels using different sales currencies we will add some temporary exchange rate settings. You must alter the rate back to what you wish to use (after we have completed the work)
  • Change the base currency setting
  • *IF* only the base currency is now set we will check that any channels have their sale currency to the new base currency (or new exchange rates need setting up)

If you have existing bookings (that you wish to retain) this makes the process much more tricky. They will have to be recalculated to the new currency. This is something that is possible but you should take professional advice (i.e. from your accountant) before you ask us to progress

You will then need to:

  • Re-enter your prices for your tours/hotels/options and any configured lead-in prices/deposits (Tour/hotel dates & prices, Tour/hotel setup)
  • Check the exchange rate table that it is using rates you wish to use (Configuration > System& Setup)
  • Check your commission schemes and fixed markup schemes to ensure not using fixed values (and change them if you are) (Configuration > System&Setup)

More questions?

Please do contact us to talk about your proposed base currency change