Currency Rates Management

fernandoceolin

Hello there, I live in Brazil but my company pays me in USD, most of my expanses are in BRL and I only got paid by the end of the month, so basically the daily rate calculation does not help at all because the only rate that matters is the one at the end of the month. With that saild I would think that we should be able to manage the rate on each Item or when closing the report I should be able to set the currency rate for the month, do you think we can have such feature??

Because today I need to export my expanses to a spreadsheet and fix all rates manualy.

tks in advance.

April Bekkala

Hi @fernandoceolin

Any expenses entered in a foreign currency will automatically be converted to this default currency, in your case USD, using that day’s trading average provided by the touchstone Open Exchange Rates converter.

This means, your expenses aren't converted at the time they're paid to you but rather what the rate was at the time you incurred the expense. The rate from that day is applied to the expense.

You do not have the ability to set your own monthly rate conversion within Expensify.

fernandoceolin

@April Bekkala , can I have a feature request for this? Or instead of automatically convert the values, I would like to set the exchange rates for each expense manually?

Any one would do in the second case it could be a simple option to not use the integration and allow the rate field to be filled manually.

Rachael Hopkins

Hi @fernandoceolin you absolutely can keep this open as an Idea for others to vote on, but just to set expectations, I did recently close a similar one which had only 2 votes in 2 years. That does not mean that the demand won't change, of course!

Rachael Hopkins

Actually @fernandoceolin I take that back! We have this other Idea here which I think fits with what you want, and it's quite popular. So I'm going to close this one as a duplicate.