Using multiple currencies to pay for an order is a common task in any location with a customer base made up of a high amount of tourists. Most tourists carry local currency but could also carry other common currencies used in the region. For example, Israel’s currency is the shekel, but many tourists carry US Dollars or the Euro.
This feature allows restaurant patrons to pay with any common currency that has been configured with an exchange rate in the control panel. This is for cash payments only. Debit and credit card payments are processed through the business' bank and/or credit card processor.
This new feature will allow a cashier to do the following:
- Change which currencies they are processing payment in.
- Process payment in the chosen currencies.
This article will guide you through the process of:
- Enabling the Feature
- Choosing currencies at checkout.
NOTE: Configuring the exchange rate is a manual process and as the rates change, it is up to the business owner to make the needed changes in their control panel. It is up to the manager / owner to set their exchange rate. Finally, the manager / owner could configure a rate that is more favorable to them because they are providing this convenience to their customers.
Enable the Feature
You will need to enable the feature from the Lavu Control Panel. Make sure to have the exchange rate that you will use on hand and that you have already set your Primary Currency Code.
- Login to the Lavu Control Panel
- Navigate to Settings > Location and click Advanced Location Settings. Currency Settings is the first section of the Advanced Location Settings page.
- Check the box next to Enable secondary currency display on receipts.
- Check the box next to Enable Multiple secondary currency.
- Select your secondary currency code from the Secondary currency code (for receipts) dropdown.
- The Secondary monetary symbol will auto populate.
- Type what you want to print on the receipts for the Secondary currency receipt label.
- Click SAVE.
- Click the VIEW / EDIT button next to Secondary Currency exchange rates.
- Click + ADD RATE in the Edit Secondary Currency Exchange Rates popup.
- Select a Country Code.
- The Effective Date defaults to today. When updating an existing rate, click on the date to the enter the new Effective Date.
- Click in the Rate field to enter the Rate.
- Repeat Steps 10 through 13 for all the currencies you are willing to accept as payment.
- Click SAVE to return to the Advanced Location Settings page.
- Determine the Access level required to edit exchange rate in the POS application by selecting the appropriate level from the dropdown.
- Click SAVE at the bottom of the Advanced Location Settings page.
- Reload Settings on all your Lavu devices to make the currencies available to restaurant staff.
Choosing Currencies at Checkout
Here are the step-by-step directions:
- Take an order to the Checkout in the app.
- Tap the hamburger button at the bottom left of the screen.
- Tap Functions.
- Tap Currencies.
- A list of countries is displayed. Select the country that uses the currency the customer has for this payment.
- The customer pays with Cash, and the payment will be processed in the alternate currency. You are now able to select cash to close out, or select a cash amount which will be applied to the check. Checks can also be split and different currencies applied to each check.
- Complete the checkout process. When the receipt is printed - it will display exchange information. End of Day Reporting will reflect the use of multiple currencies for the transaction.
- The alternate currency is stored locally on the POS App, meaning the user's selection will only be used on the iPad that made this selection.
- The users primary currency functions as their default currency as well.
- The alternate currency selection will be maintained until the user changes the currency to another option.
- If the user uninstalls / reinstalls the Lavu POS App, their alternate currency selection will revert to the location's primary currency.
- If changes are made to secondary currencies in the Control Panel, users can reload settings on the POS App to update rates or add additional currencies.