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Currency Conversion Surcharge

VisionRx
VisionRx Expensify Customer Posts: 35 Expensify Admirer

Is there any chance Expensify will bring back currency conversion surcharge feature that was taken away a couple of years ago? The need has not gone away for Canadian users. Or maybe allow us to add a currency conversion surcharge fee when entering an expense. I know from the past that Expensify would prefer we rely on credit card or bank statements uploads, but instead, please allow us to add a currency conversion surcharge amount or percentage instead.

Answers

  • Lauren Schurr
    Lauren Schurr Expensify Team Posts: 136 Expensify Team

    Hi @VisionRx - Thanks for reaching out! The currency conversion surcharge is not something we're currently planning to bring back. However, I'm happy to pass along your feedback to my team so that they are aware that the need still exists for some users.

  • VisionRx
    VisionRx Expensify Customer Posts: 35 Expensify Admirer

    Without it, there is no way to get a correct conversion for my U.S. expenses when I am traveling from Canada to the U.S. since the conversion rate used by Expensify does not include the currency conversion surcharge.

  • Fredrik
    Fredrik Expensify Customer Posts: 2 Expensify Newcomer

    The Removal for Currency Exchange setting within the App is very bad. I use the App traveling to Multiple countries with multiple currencies and I use my credit-card. For every charge, I "loose" 5% when my credit-card converts the foreign charge and Converts it to my reporting currency (Singapore Dollars). The rate in the Expensify program is not reflecting actual Credit Card or Cash-Rates found in banks for private people. Please add a simple section perhaps where one can define the currency conversion rate for the whole report so to say and all foreign Currency is converted using such rate.

  • Christina Dobryzynski
    Christina Dobryzynski Expensify Success Coach - Admin, Expensify Team, Expensify Student Ambassador Posts: 269 Expensify Team

    Hi @Fredrik - Thank you so much for the additional information on what you see. For credit card expenses, we recommend directly connecting the card to your account or uploading the expenses as a CSV, which should ensure the uploaded amounts match what you were charged. We have more details about these solutions here. Let us know if you have any questions!

  • VisionRx
    VisionRx Expensify Customer Posts: 35 Expensify Admirer

    Fredrik, you need to understand that Expensify is becoming less of a stand alone expense report tool and more of an integrated accounting software tool. That's what was explained to me when I kept pushing for a reason why they would take away a function. They really didn't need to do it. This was the same reason given to me when I asked why the subtotals for Categories couldn't also show the tax for each category.

    Expensify focuses on the integration functionality to the accounting software of your company and NOT on improving the actual expense report.

    Despite the fact that the App can do the work for you, plan on doing it manually yourself or by implementing the extra steps recommended by Expensify.