Quote event prices in alternate currencies
Customers recognize the difference when you make the effort to speak their language. Translating the cost of your services into a currency your customer understands makes it simple for them to digest, and shows you want to build a relationship as you are sympathetic to their needs. For them, being able to quickly interpret your quote might give you the winning edge over a competitor. The quicker you both get on the same page, the faster you'll be able to do business together.
If your property is using the alternate currencies feature, you can display another currency on BEOs, Banquet Checks, and Advanced Booking documents.
For example, a property is based in Spain and the sales team has a target for new events business from the USA. To show that the property is comfortable working with international markets, they want to respond to leads with a proposal that contains a quote in both Euros and the amount exchanged to US dollars.
Here are a few things to keep in mind before you get started:
- Only the currencies that your administrator has enabled for your property will be available in the Alternate Prices window and for selection when merging documents.
- Guestrooms, Other Income, Packages, and cross-property events are not included at this time. We'd love to hear if you’re interested for those to be added.
- For the best experience add menus and items to detail the total cost of services that will need to be paid for before merging.
- An administrator has access to amend the converted prices that display by default. You can manually update them on your event if the exchange rate has drastically changed, and then suggest that your administrator update them in setup to save everyone time in the future.
- You can only select one alternate currency per merge document.
- Dual currencies can only be displayed on the BEO, Banquet Check, or an Advanced Booking document such as a Booking Check. The currency picklist will always be displayed when you're merging a document regardless of the template type you select.
- When entering a repeat booking, cloning the booking will copy alternate prices for function room rental, and menus and items as specified in the booking you copied, not the default prices from setup.
To create a document with an alternate currency
When you have created a booking with events:
- From the Manage Events window, click Quote Prices.
- The Booking Event picklist displays the event you're working with. Click to select a different event.
Starting with Items, work through the tabs to review or add prices in the currency field displayed for all chargeable services and rates. Your property administrator may have converted the prices for menus and items in setup—in this case they'll automatically populate for you. Depending on your property's process, you may need to update the pricing using an exchange rate. Some properties refer to a website that publishes global exchange rates daily, while others are able to use a fixed conversion rate, which requires little or no change to pricing.
You'll need to save your changes as you progress through the tabs. For simple and detailed menus, click Save & Next to jump to the next menu.
Good to know: Use the search bar to filter each tab and locate specific items or menus. For example, click Simple Menus and type "coffee" to display all simple menus with the word "coffee" in the name that are part of the same event.
- Items: Enter the converted price in alternate currencies, then click Save at the top of the page.
- Simple Menus: Click the name of a menu to expand the details and display the Revenue Breakdowns. Enter the converted price for each applicable revenue breakdown. For example, enter the converted breakdown for Food and Beverage.
- Detailed Menus: Click the name of the menu to display the Revenue Breakdowns and Menu Items if priced individually. Enter the prices in the alternate currency field.
- Function Rooms: Enter the converted price for rental.
If you forgot to add something, click Manage Menus & Items to add it and then click Quote Prices to continue adding alternate prices. If you need to add another event or forgot to add rental, go to the booking or events window which will be open in another browser tab. When you return, click refresh next to the Booking Event picklist to display the newly added event.
- Click Close and Yes to continue.
- From the booking page, click the Merge or Batch Merge button.
- Select a BEO, Banquet Check, or Advanced Booking template, and then select the currency you want to use in the Alternate Currencies picklist.
- Click Generate.