Archives For November 30, 1999

Wondering how to account for foreign currency in your travel expense reports? Expensify makes it simpler than ever.

What is foreign exchange accounting?

Foreign exchange accounting is the process of recording business expenses in currencies other than your own.

If you’ve ever taken a business trip to another country, for instance, then you’ve likely found yourself wondering how to get reimbursed for expenses you paid for in yen (or euros, or yuan, or any other type of foreign currency) instead of dollars. 

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All the money in the world

 —  December 2, 2010 — Leave a comment

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.