Archives For currency

Doing business in places others haven’t heard of? While we may not know where you are either, rest assured that we’ve got your expense needs covered – your purchases can now be recorded in any of 159 currencies.

Any expense in a foreign currency will automatically be converted to your home currency once added to a report. We use Oanda, the touchstone foreign exchange rate calculator used by corporations, tax authorities, auditing firms, and financial institutions worldwide, to do the currency conversion based on the day’s exchange rate when the expense was incurred. Check out the full list of supported foreign currencies on our currency conversion help page.

Funny how the most obvious things slip by. You might recall that we just released a new “Mileage (and other unit) support” feature. It just occurred to me that a perfect use of this “other unit” functionality is foreign currencies, duh! It’s so incredibly obvious, naturally I’d only realize it once I had the need to log a cash expense in Turkish Lira. So to do that I simply:

  1. Went to my settings page
  2. Created a new unit named “lira”
  3. Set it to the current exchange rate ($0.65/lira)

Now I can log Turkish expenses by just creating expenses like “160 lira – Korean hostel 2 nights 4 people”, and it automatically converts it to the relevant USD amount. Brilliant! I mean, I knew we were pretty cool, but even *I* sometimes underestimate ourselves.