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QBO multi currency integration

ShimaShima Expensify Customer Posts: 1
It would be helpful if Expensify supported multi currency reporting with Quick Books Online.
For our use case, our home currency in QBO is CAD. If an individual is assigned a USD Expense policy and submits an expense report, once approved, Expensify will export the report to QBO with an exchange rate of 1:1 - which is incorrect. 
If the expense policy is USD, there should be an exchange rate that Expensify captures before exporting to QBO. Manually updating the exchange rate in QBO after the report has been exported is a nuisance and error prone. It would be nice if the Expensify integration with QBO facilitated this process.
3 votes

Gathering use cases · Last Updated

Comments

  • Nicole MendoncaNicole Mendonca Expensify Customer, Expensify Team Posts: 58 Expensify Team
    Thanks for sharing @Shima! Don't forget to vote for your idea  :)
  • lnguyenlnguyen Expensify Customer Posts: 3 Expensify Newcomer
    We also experience the same problem at our company.  It really defeats the purpose of automation if you have to manually enter the exchange rate for each expense report.
  • Victoria O'learyVictoria O'leary Expensify Team Posts: 74 Expensify Team
    Thanks for the feedback @lnguyen! Make sure you add your vote to this idea  =)
  • COZCOZ Expensify Customer Posts: 1

    I don't understand why this is not at the top of the priority list of issues to tackle. It's basic stuff.

    Businesses with multi-locations and currencies have to take additional manual steps to handle multi-currency posts to QBO. My client is now facing this issue and based on what I read, there are no remedies.

    I thought that creating a separate policy with the other country currency would resolve the issue. But based on what I read, amounts posted to QBO are not tagged with an exchange rate and posted as if the exchange rate is 1.0.

    Is that a fair reading or is there an automated way to resolve this?

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