At this current point in time, reimbursements support CAD only. If you have expenses in a different currency, they must be converted to CAD within the report. Here’s how to manage non-CAD expenses:
Step 1: Adding 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- Select the Currency: Choose the currency in which the expense was originally made.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 2: Automatic Currency Conversion
Float automatically calculates the CAD equivalent of your expense 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 3: 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.