How do I correctly configure Magento to support 2 currencies

Question

Currently I have one website/storeview that uses Danish Krones as currency. Now I would like to expand with a new website that uses Euro as currency. This causes some problems as I am trying to achieve the following:

1. I want to input product + tier prices only one time. The product prices should then be automatically converted to other currencies. Current problem: Tier prices are converted correctly from DKK to EUR but the product price is not converted.

2. Shipping cost should not use currency conversion (system -> configuration -> shipping method). For example, if I have a website using EURO I want to input fx. 5 EURO for shipping cost. On a website that is using DKK I want to input fx. 15 DKK for shipping cost. This works with the current configuration

3. There can be not difference between the amount the customer think he is paying and the amount that is actually deducted from the customer’s bank account. So I assume that I need a Base Current for DKK and a Base Currency for EURO? This works with the current configuration

My current configuration is as follows:

CURRENCY SETUP Default Config (Base Currency: Danish Krone, Default Display Currency: Danish krone, Allowed Currencies: Danish Krone)

websitedk (Base Currency: Danish Krone, Default Display Currency: Danish krone, Allowed Currencies: Danish Krone) - storedk - - storeviewdk (Default Display Currency: Danish krone, Allowed Currencies: Danish Krone)

websiteeu (Base Currency: Euro, Default Display Currency: Euro, Allowed Currencies: Euro) - storeeu - - storevieweu (Default Display Currency: Euro, Allowed Currencies: Euro)

Catalog -> Price -> Catalog Price Scope: Website

So my question goes, how can I solve the issue listed in point number 1: “Tier prices are converted correctly from DKK to EUR but the product price is not converted.” ?

Links: DKK product: http://www.dk.DELETETHISbrisingi.com/neodym-skivemagnet-6x6-mm-magp10011a EUR product: http://www.eu.DELETETHISbrisingi.com/neodym-disc-magnet-6x6-mm

Answer 1

Right, you need to change the Price Scope to website pricing and create a new website. This however is where want and Magento can do differ. The EUR website prices are hardcoded, whenever you update fx you need to perform a full dataload on the secondary website (PHP, Magmi, CSV) or if you update the DDK price for a product you need to manually update the EUR website view price as well. It was a 'hack' by Magento to get it to work but pushes the burden to the business resource to fix - so basically in the real world it doesn't work.

There are a couple of extensions that do this but they touch the core and we have been reading people having many problems with its stability - you can try those. We use something completely different but it is an enterprise grade (L'Oreal, Asos derived) solution which keeps the pricing in supplier price/currency and auto-calcs the visitor pricing in realtime (cogs, margins, ddp) - but we are launching to 180+ countries so multi-website would work for us - updating 100s thousands products nightly for fx changes across multiple websites (1mil+ updates) needing brand flash sale data reloads is not our idea of a commerce platform - and Magento implodes when you add 10s stores/websites.

So go the multi-website route and figure out a way to update the secondary store.