Currency reserves
If you buy foreign currency in advance, record the purchases here. QuoteXelerator then prices against what the currency cost you and sets it aside for deals that are about to close.
The Currency Reserves tab is in the app settings. Owners and managers can use it.
Record a purchase
- Open Currency Reserves and choose Record Purchase.
-
Fill in:
- Currency Pair
- Amount: how much currency you bought.
- Market Rate: the exchange rate of the purchase.
- Conversion Cost: bank markup and fees, as an amount.
- Purchase Date, and optionally Provider and Notes.
- Save.
QuoteXelerator adds the conversion cost to the market rate to get the rate you really paid. Under Purchase History you can Edit a purchase or Void one that was entered by mistake.
Your balance
The Reserve Summary shows, per currency pair:
- Total Held: everything you recorded.
- Reserved: currency set aside for open deals.
- Available: what is left for new deals.
- WAC Reseller Rate: the weighted average rate across your recorded purchases, including conversion cost.
How reserves follow a deal
You do not create reserves by hand. They follow the deal stage in your default sales pipeline:
| Deal moves to | What happens |
|---|---|
| Contract Sent | Currency for the deal's latest quote is reserved, oldest purchases first, at their blended rate. The deal needs a quote with currency conversion. If the available balance cannot cover the whole amount, nothing is reserved and the reserve responsibles get an email. |
| Closed Won | The reserve is consumed. We record the ECB rate of that day next to it. If the final quote needs less currency than was reserved, the rest becomes available again. |
| Closed Lost | The reserve is released and the currency becomes available again. |
| Back from Closed Won to Contract Sent | The currency is reserved again. |
We also check reserved deals every six hours, so a deal that was won or lost while nobody had it open is still settled.
Release a reserve by hand
- Open Currency Reserves and find the deal under Active Reservations.
- Choose Release, optionally add a Reason, and choose Confirm Release.
Only reserves with the status Reserved can be released. If the deal is still in Contract Sent, the next check reserves the currency again. The reservations list can be filtered by Reserved, Consumed and Released.
What the customer pays
Each recipe has a Margin Strategy that decides who benefits from currency you bought cheaply:
- Growth (pass savings to customer), the default. The customer gets your reserve rate if the reserve covers the whole deal and its rate is no worse than today's. Otherwise the customer is priced at today's rate.
- Consolidate (keep margin). The customer is always priced at today's rate. The difference to what you paid is shown as captured margin.
A reserve never makes the customer's price worse. If the currency cost you more than today's rate, the customer is priced at today's rate. See FX engine.
Limits
- Reserves do not expire. They stay until the deal is won, lost or released by hand.
- A reserve must be larger than zero and cannot exceed your available balance for that currency pair.
- Only deals in your default sales pipeline are reserved automatically.
Notification levels for reserves are set on the same tab. See Notifications.