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Why do some of my sales show something other than USD?
Why do some of my sales show something other than USD?
Updated over a week ago

If you have published a course with us, you will have access to a sales report. Some of the transactions will show a GBP, EUR, or NOK notification and a variable USD price. The reason for this is that Chessable uses fixed-set pricing and a blended tax rate (VAT).

VAT varies a lot in some countries and since the price is set, there will be a variable VAT subtraction effect. For instance, let's say the price is set at €10 across all of the EU countries. In some countries, VAT is 19%, and in others 27%. This means that the country of 19%, gets €1.60 subtracted for VAT. And the country with 27%, €2.13 would be subtracted for VAT. The price the control panel would show for you would be €10-Variable VAT, converted to USD, creating variability.

There is also an overall FX exchange effect. Let's say we published your course at $20, which on the published date was 18 euros. Let's say the customer paid 18 euros right at launch. Your control panel would show $20 exactly.

However, let's say a customer bought in two weeks. All of a sudden the USD got stronger, and the 18 euro purchase (set pricing), is now equivalent to $19.50. You would therefore see a note that we received EUR and are paying out only $19.50

The FX is obtained live via www.openexchangerates.org - and the amount in your control panel reflects the live exchange rate.

If the FX were to fluctuate too wildly, our team and/or algorithms would adjust the set pricing. However, we aim to refrain from doing so for as long as possible so that customers paying in EUR, GBP, and NOK have customer-friendly pricing, and any marketing released to them at a set price, is respected.

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