Customers on our Professional and Enterprise plans are able to submit reimbursement reports in international currencies. Here’s how to manage foreign expenses:
Step 1: Choose the Report Currency
This will be chosen for you if you have already connected your bank account. You will want to select the currency that you receive your paycheque in. If you're based in Canada, you'll want your Report Currency to be Canadian Dollars. If you're based in the US, you'll want your Report Currency to be US Dollars. We support all global currencies so regardless of which geography a spender lives in, they can file a reimbursement report!
Step 2: Add Your Expense
When adding an expense to your report, you’ll need to:
- Fill Out the Expense Date: Enter the date the expense was incurred.
- Select the Currency: Choose the currency in which the expense was originally made.
- Enter the Expense Amount: Input the amount spent in the original currency.
Step 3: Automatic Currency Conversion
Float automatically calculates your expense from the purchase currency to the report currency using the exchange rate from the expense date. This ensures that the reimbursement amount is accurate and consistent with the exchange rate at the time of the expense.
Step 4: Adjusting the Reimbursement Amount
If you need to account for additional costs, such as a credit card foreign exchange (FX) surcharge, you can manually input a different Reimbursement Amount.
New Exchange Rate Displayed: Float will show a new expense rate based on the updated amount alongside the original exchange rate. This helps you see both the actual exchange rate and the rate adjusted for any extra charges.