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How does Expensify calculate the currency exchange rate?
Foreign currency entries convert automatically to your baseline workspace currency using standard trading day averages powered by Open Exchange Rates. This ensures clear, auditable valuations based on transaction-day closing metrics. This rate is reported to Expensify after the market closes on that given day. This means the actual conversion rate used will differ depending on the day the expense occurred, based on how those two currencies were trading against each other on that day.
Why is the amount in Expensify different from the expense amount on my invoice?
In most cases, the amount in Expensify may differ from the amount on an invoice because an expense was marked as "non-reimbursable" in Expensify. These items are treated as non-compliant expenses and are generally grossed up and added to the supported employee's regular payroll.
Why is the Expensify exchange rate lower than what was charged on a supported employee's credit card?
If a credit card exchange rate differs from the automatic exchange rate applied by Expensify, supported employees should modify the expense amount and attach a screenshot of the credit card statement to their expense report as additional documentation of this exchange rate difference. The screenshot should clearly show the converted amounts charged.
Please ensure the following for the expense report:
The credit card statement is attached in the same report the original expenses are claimed in, with original VAT receipts and any invoices included.
The attached credit card statement clearly shows the converted amounts they were charged.
The expense amount should match what is shown on their credit card statement.
The currency should match what is shown on their credit card statement.
When submitting an expense report with differing exchange rates, Expensify will flag that the receipt amount does not match the expense claim amount. Employees may disregard this error message and submit the expense for reimbursement, assuming the above conditions have been satisfied.
How can a supported employee submit mileage for reimbursement?
Mileage entries use New Expensify's built-in distance tracking tools. Employees select the global green "+" Icon, click Distance, choose the appropriate country rate based on their vehicle engine specs, and enter their travel endpoints directly inside the chat screen.
Can supported employees use a company credit card to pay for expenses?
Pebl does not directly issue corporate cards at this time. Please submit a request to the Pebl support team for more information regarding company credit card use.
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