For multi-currency transactions, Zuora Billing uses either Invoice Post Date or Invoice Date as the exchange rate date for billing transactions depending on which date is earlier. In addition, Zuora Billing gives you the flexibility to customize the currency conversion configuration based on your business requirements. However, Zuora Revenue uses Invoice Date as the exchange rate date by default. The behavior discrepancy between Zuora Billing and Zuora Revenue can potentially result in issues when you reconcile two systems.
So we recommend that you sync the transaction-level exchange rate from Zuora Billing into Zuora Revenue. It guarantees that the exchange rate for billing transactions is consistently used across the two systems.
To sync the exchange rate for billing items from Zuora Billing into Zuora Revenue, complete the following configuration on both sides:
|Zuora Billing||Zuora Revenue|
The <Object> can be one of the following supported billing objects:
Assume that a transaction is conducted in EUR through Zuora Billing, but the home currency for your Zuora tenant is USD. You use Oanda as the exchange rate provider.
- The Invoice Date for this transaction is January 1, 2019, where the exchange rate is 0.75.
- The Invoice Post Date for this transaction is December 31, 2018, where the exchange rate is 0.77.
After you have completed the configuration to sync exchange rates from Zuora Billing to Zuora Revenue, the billing line in Pre-Staging data and Staging are as below:
|Transaction||Transaction amount||Currency||Home currency||Invoice date||Exchange Rate||Exchange Rate Date|
Without the preceding Zuora Billing settings and Zuora Revenue profile correctly configured, no exchange rate is synced. Zuora Revenue populates the exchange rate on the invoice date during data transformation. If the exchange rate on the invoice date is not available in the system, Zuora Revenue uses the last available exchange rate.
In this case, the data synced to Zuora Revenue Pre-Staging is:
|Transaction||Transaction amount||Currency||Home currency||Invoice Date|
After the Data Transformation job is run, the Exchange Rate is populated automatically. The corresponding Staging line is:
|Transaction||Transaction amount||Currency||Home currency||Invoice Date||Exchange Rate|
Since Zuora Billing uses 0.77 as the exchange rate, the billing data mismatch occurs between Zuora Billing and Zuora Revenue. Therefore, it is recommended that you sync the exchange rate from Zuora Billing into Zuora Revenue. By doing so, Zuora Revenue uses the same exchange rate as Zuora Billing, which avoids the data discrepancy between two systems.