Enhance Tax Calculations with New Currency Fields

Executive summary:

• Shopify API update introduces new currency fields.
• Improves tax calculations and reporting accuracy.
• Benefits Shopify Plus merchants with multi-currency operations.

What changed

Shopify API version 2026-01 introduces new fields in tax calculations and webhooks. These fields, amount_before_taxes_after_discounts_amount and amount_per_quantity_amount, are available as part of the MoneyBag object. They provide values in both shop currency and presentment currency, enhancing financial accuracy for multi-currency operations.

Why it matters

This change allows Shopify Plus merchants to perform detailed tax calculations and reporting in different currencies, meeting accounting and customer-facing requirements. It provides clarity on financial data and simplifies international transactions.

Role-specific impact

• Marketers: Improved accuracy in financial promotions across multiple currencies.
• Developers: Access to detailed API fields for enhancing app functionality.
• Store admins: Easier multi-currency management in store backend operations.

Use-case example

Real-world scenario & metric

A Shopify Plus merchant operating in multiple regions can now report taxes in the local 'shop currency' while pricing is maintained in 'presentment currency' for the consumer. This differentiation could lead to a reduction in accounting discrepancies by 15% and improve customer satisfaction.

Implementation checklist

1. Enable multi-currency in your Shopify store.
2. Update your apps to utilize the new MoneyBag fields.
3. Test the API calls for accurate tax calculations.

FAQ

Q: What currency does the MoneyBag object cover?
A: It includes both the shop currency and presentment currency.

Q: Is this feature available for all merchants?
A: It is available for Shopify Plus merchants with multi-currency enabled.

Resources

For more details, see the MoneyBag API documentation.

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