Credit Card Feed

[scottyrom]

Good evening,

We have an automated feed for our Barclaycard Corporate Credit Card claims into Concur. This feed shows the itemised credit card item in GBP equivalent (from the GBP statement) and the user moves these to the appropriate claim.

Where receipts are in e.g. EUR, USD etc, are users expected to go into each individual item (there could be up to 50 lines) and replace the default statement/system GBP currency to the currency of the receipt, input the value of the currency receipt and then input the GBP equivalent (according to the cc statement) ? Or is there an alternative mechanism ?

Would HMRC accept solely GBP line items in a potential audit of Concur claims even though the receipts are potentially multi currency ? Does anyone have any experience of HMRC (or even internal or other external) audits in this regard ?

Thank you.

[KevinD · Accepted solution]

@scottyrom unless your company mandates them changing the currency, they shouldn't have to. I know when I traveled internationally, my card transaction that imported in would show what was charged in the foreign currency then show what that was converted into USD. So, if users are assigned GBP as their default currency and are making purchases outside the UK and in the US, they might see both amounts on their reports. Now, I'm basing this on what I've seen personally, but I would need to look at one of your employee's reports and see what is happening. 

Now, I have seen where the user had a hotel expense in another country and needed to enter their itemizations with the amounts shown in the foreign currency, but that's if the Hotel expense wasn't auto-itemized. The system will have a field for the user's assigned currency and a field showing the converted amount. They shouldn't need to enter two different amounts. The system will do the conversion. I hope this helps a bit.

[scottyrom]

Thank you.

My concern was that HMRC would not accept e.g. a 100 EUR taxi claim being shown as a GBP statement entry. The only physical receipt is in EUR but, as you say, the Barclaycard statement itself shows both the EUR and the GBP equivalent so we have alternative back-up. Unless challenged, we'll go with the GBP entry for now.