This article is for people whose ad accounts and/or stores are in different currencies.
As eCommerce continues to grow, more business owners are accepting multiple currencies. Wicked customers with multiple currencies often want Wicked Reports to calculate exchange rate currency values so that the ROI reporting can be correct.
For every multi-currency use case, there is only one rule to follow:
Make your Revenue Currency match your Cost Currency.
Wicked Reports has a handy Currency Conversion tool that will convert the revenue from all integrated stores into the same revenue currency. To enable this feature, please contact support@wickedreports.com.
Below, we walk through two Multi-Currency Use Cases:
- Use Case #1: I have Multiple Ad Cost Currencies with a Single or Multiple Revenue Currency(s)
- Use Case #2: My Ad Cost Currencies are the same, but I have multiple Revenue Currencies
Currency Use Case #1: I have Multiple Ad Cost Currencies with a Single or Multiple Revenue Currency
Example Use Case:
| Ad Platforms | ✅ $ USD | |
| ❌ £ GBP | ||
| eCommerce Stores | Store A | ✅ $ USD |
| Store B | ✅ $ USD |
Solution #1: Use one currency, with one Wicked Account
Convert your Facebook costs to USD, so all ad costs are the same and match your revenue currency.
Example Outcome - One Wicked Account with the following setup:
| Ad Platforms | ✅ $ USD | |
| ✅ $ USD | ||
| eCommerce Stores | Store A | ✅ $ USD |
| Store B |
✅ $ USD |
Solution #2: Use two currencies, with two Wicked Accounts
- Create one Wicked Account for USD, and create one Wicked Account for GBP.
- Create one set of Ad Accounts for USD, and another set of Ad Accounts for GBP.
- Then, use Wicked's native Revenue Currency converter to convert one of your store currencies to GBP. Store A & B must process separate orders so Store A orders are sent to Wicked Account #1, and Store B orders are sent to Wicked Account #2.
Example Outcome:
Wicked Account #1 - USD
| Ad Platforms | Google A | ✅ $ USD |
| Facebook A | ✅ $ USD | |
| eCommerce Stores | Store A | ✅ $ USD |
Wicked Account #2 - GBP
| Ad Platforms | Google B | ✅ £ GBP |
| Facebook B | ✅ £ GBP | |
| eCommerce Stores | Store B | ✅ £ GBP |
Solution #3: Use two currencies, with one Wicked Account
You always have the option to keep the currencies as is, and live with the exchange rate difference.
In this scenario, you may also consider using the Wicked API to push data outside of Wicked Reports. This allows you to run the currency conversion yourself, and visualize your data in a separate Reporting Software (like Looker Studio).
Currency Use Case #2: My Ad Cost Currencies are the same, but I have multiple Revenue Currencies
Before investing further, please confirm with your eCommerce provider that the Outbound API currencies for each of your stores is different.
If all stores funnel their revenue into the same eCommerce parent account, it's possible your eCommerce store sends all revenue to Wicked in a single currency already.
For example:
I have two Shopify Stores - one in USD, one in GBP. However, they both funnel into the same Shopify parent account. The Shopify parent account sends all store revenue to Wicked in USD.
Therefore, you can connect a single Shopify account to Wicked Reports. Just ensure the Revenue Currency from Shopify matches your Ad Cost Currency. If it doesn't, use our Currency Converter
If your eCommerce stores are truly separate, then continue below.
Example Use Case:
| Ad Platforms | ✅ $ USD | |
| ✅ $ USD | ||
| eCommerce Stores | Store A | ✅ $ USD |
| Store B | ❌ £ GBP |
Solution #1: Use one currency, with one Wicked Account
In this use case, you have two options for converting your GBP store into USD currency:
- Update Store B's settings so your Store's Outbound API sends USD currency to Wicked. This means, your store processes the currency conversion from GBP to USD prior to sending the data to Wicked.
- Create a custom integration to process the currency conversion for Store B and send Store B's orders to Wicked.
Example Outcome - One Wicked Account with the following setup:
| Ad Platforms | ✅ $ USD | |
| ✅ $ USD | ||
| eCommerce Stores | Store A | ✅ $ USD |
| Store B | ✅ $ USD |
Solution #2: Use two currencies, with two Wicked Accounts
- Create one Wicked Account for USD, and create one Wicked Account for GBP.
- Create one set of Ad Accounts for USD, and another set of Ad Accounts for GBP.
- Connect the GBP Store to the Wicked GBP account, and the USD Store to the Wicked USD Account.
Wicked Account #1 - USD
| Ad Platforms | Google A | ✅ $ USD |
| Facebook A | ✅ $ USD | |
| eCommerce Stores | Store A | ✅ $ USD |
Wicked Account #2 - GBP
| Ad Platforms |
Google B |
✅ £ GBP |
| Facebook B | ✅ £ GBP | |
| eCommerce Stores | Store B | ✅ £ GBP |
Solution #3: Use two currencies, with one Wicked Account
You always have the option to keep the currencies as is, and live with the exchange rate difference.
In this scenario, you may also consider using the Wicked API to push data outside of Wicked Reports. This allows you to run the currency conversion yourself, and visualize your data in a separate Reporting Software (like Looker Studio).