RoyaltyZone allows your licensees to report sales transactions in their actual sales currency and will convert each sale to the agreement base currency using either European Central Bank exchange rates (on the date you specify) or a fixed exchange rate that you set. This document will help you set up your currency conversion using European Central Bank Rates. Currency conversion rates can be set up when adding a new Agreement, or by editing an existing Agreement. Currency conversion setup on an existing Agreement does not require an amendment.
On your Agreement Details Page, select the Agreement base currency from the Currency dropdown box
Next, select the date you want RoyaltyZone to use to establish the exchange rate
1. First Day of Period (for Q1 2012, will use January 1, 2012 conversion rate)
2. Last Day of Period (for Q1 2012, will use March 31, 2012 con version rate)
3. Average over Period (will use the average conversion rate for the period reported)
NOTE: Eurpoean Central Bank exchange rates are updated nightly.
Next, select "Use European Central Bank" from the dropdown box
Continue entering your Agreement Description and select "Save"
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