Open Exchange Rates, rates issues and exports

Ronan_TDC

Hello,

Could it be possible to export rates from OpenExchangerates.org for a period?

Some employees use their AMEX credit card. Because the rates are different, they enter the amount converted in the appropriate currency from their personnal bank statement. However, is it allowed? Could we have issues from external auditors, even if it's not significant?

And thus the amounts are red flagged by Expensify too. The Currency Conversion Surcharge will make the process longer for employees, they spend too much time on Expensify and I don't want to tell them that they need to create a new report.

Thank you in advance,

John Schuster

Hi @Ronan_TDC, thanks for reaching out!

Are you wondering if it's possible to export the exchange rates _directly from OpenExchangeRates.org_, or are you asking if it's possible to export those rates from within Expensify? I think the only way to export the rates that were used during a given day would be to create a custom export template that prints the exchange rate. This would show the rate of exchange that was used at the time when the expense was converted.

However, is it allowed? Could we have issues from external auditors, even if it's not significant?

I can't really know this one, I'm afraid. I think it'll be important to ask your accountant.

Ronan_TDC

Hi @John Schuster, thank you for your answer.

Unfortunately, I can't have access to the legal documentation about the accurate evidence. I know in France your bank statement isn't an accurate proof/evidence, the invoice is mandatory and a employee challenge me about this fact. I've arrived in Canada and would need a CPA access to find this kind of documentation. Is anyone in Canada that could give me an opinion about it?

Thanks,

Sheena Trepanier

@Ronan_TDC - While we can't offer advice and recommendations for a topic of this nature, I will leave this chat open so other customers in Canada might weigh in. Strictly speaking, we suggest consulting an accounting professional who will better understand the complexities and risks of the behavior.