If you have traveled for work and have expenses that you have paid for in a different currency, you can enter them into Fyle just as easily as general expenses. The amount will automatically be converted from the foreign currency to the home currency that is set for your organization.
Creating foreign currency expenses
Start a new expense: Click add expense on the web app or tap the + (plus) icon in the mobile app.
Choose currency:
Web app: By default, the expense form displays your organization's home currency. Click the X next to the currency to select a different currency. You can select from the dropdown list or type the currency code.
Mobile app: Tap the currency field and select the foreign currency.
Enter the foreign amount: Enter the amount you paid in the foreign currency.
Automatic conversion: Fyle automatically converts the foreign amount to your home currency using the current exchange rate. The converted amount is displayed on the expense form.
Complete and save: Fill in any remaining mandatory fields and save the expense.
Viewing foreign currency expenses
In your expense list, foreign currency expenses display both the foreign and home currency amounts, along with the applied exchange rate.
Following the mentioned steps, you should be able to create expenses in a foreign currency. Once the expenses are saved you can add them to a report to submit for approval.
Note:
Exchange rate: Fyle uses real-time exchange rates for conversion. The exchange rate applied to your expense is based on the time the expense is saved or last edited.
Policy compliance: Be aware of your organization's policies regarding foreign currency expenses.
To learn more about creating general expenses, click here.