We have employees in US and UK. And corporate AMEX cards for all employees, regardless of the office location or local currency, gets paid in USD.
For a UK based employee, we defined GBP as the reimbursement currency. Problem is all AMEX charges only come in as GBP and not GBP and USD.
I've googled this question and also reached out to my implementation coach, but the response I received is to create separate log in IDs for non_US employees; one for reimbursement currrency of, say GBP for a London based employee for cash/OOP expense, and another one for USD for AMEX payments. We would rather not do that as we use corporate email as the log in ID.
I've learned that while Cash/OOP payment type lets you change currency, auto-fed credit card charges do not let users to change the currency. I was thinking about setting USD as the reimbursement currency for all employees, both US based and not, and have users to manually override USD to local currency on Cash expenses.
Have you ran into this scenario?
Do you have any suggestions?
Thanks for your input.
Thanks for posting!
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Hope this helps!
First, I want to say that the ideal solution for the long term is to make sure each user has an AMEX card with a posting currency that matches their reimbursement currency. This will resolve these types of issues. However, there may be any number of reasons that this is not an option for you and if it is not, we do have a possible solution. We call it Currency Triangulation.
There is a specific field in the Standard Accounting Extract (SAE) called Billing Amount (column 153) that can be used to help pay these cards. The Billing Amount filed is the Journal/Posting Amount converted to the currency of the card (USD). You can use this field to determine how much USD you need to pay down on the GBP user's cards.
Thank you for your response. I just reviewed the extract and that field is shown as NULL. However I did notice that Concur extract contains details provided by AMEX, here both GBP and USD amounts. Problem is that these details are only available on the extract after it's been sent for payment and not on the UI while in the approval process. Thank you.
|Credit Card Transaction Amount||Credit Card Transaction Tax Amount||Credit Card Transaction Currency Alpha Code||Credit Card Transaction Posted Amount||Credit Card Transaction Posted Currency Alpha Code||Exchange Rate From Billing To Employee Currency||Billing Amount|
We are running into the same issue. Is there a way to allow the user to override the exchange rate on each expense?