How to handle multiple currency

[Go4outsourcing.com]

Hi everyone,

I have recently launched a global services marketplace to buy and sell services. Our revenue is mainly generated from membership fees and transaction fees.

Both the membership fees and transaction fees are in Australian dollar. The confusion is in transaction fees. Thats how transaction fees works:

- Buyer and service provider finalizes a project
- service provider invoice buyer through our system in AUD
- buyer pays the invoice and we deduct our transaction in AUD
- Rest of the money is added to service provider account, which can be withdrawn using any of our withdrawal methods.

Now currently we are contemplating to include multiple currency....But doing that might cause confusion in terms of getting our transaction fees and reporting tax in AUD. Service provider transaction balance will be hard to maintain if payments are made in different currencies...

We were also thinking to make USD as our currency, as any buyer and service provider will prefer it.

What are your views on that

Peter