How to support multiple currencies in Expensify
Hi,
We are having a client for whom we need to implement Expensify. Client has two location, one in Boston USA and another in Switzerland. We want to setup single Expensify for employees of both the location. Can we do that? If yes, how?
Also, does Expensify support the multicurrency?
Best Answer
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Hey @Anup
You can definitely handle multiple origin currencies with one single expense report policy. Here's the determining question though - does your client track their bookkeeping/accounting in one single output currency for both teams or multiple output currency dependent on team location?
Here is why I ask. You can only have one report output currency assigned to a policy at any given time. So the expenses will still show up as the purchase currency, but the report will convert it to the designated policy currency.
For example, if a Switzerland employee submits an expense for $25CHF and submits it while the single policy is set to report output currency USD, you will see the expense notated on the report like:
08-21-2018 Restaurant Greatness $25CHF / $25.85USDIf they need all USA team member reports to output USD and all Switzerland team member reports to output CHF, then two separate expense report policies are highly recommended for this client.
I hope this helps! Please let me know if you have more questions.
