Which conversion rate to use?

[dworth]

Hi,

I like that Concur has a conversion rate utility built in.... but how does everyone use it? 

Do you enforce what Concur has calculated?

Do you let users calculate it themselves?

Some other process?

Thanks!!

[KevinD]

Some companies import their own conversion rates. You can do this if you are on the Professional platform of SAP Concur expense. I've seen companies that allow employees to change the rate from what SAP Concur shows or just use the SAP Concur calculated rate, which by the way is coming from Oanda.

[ssegelh]

Does Concur use Oanda?  I was randomly checking a day and they do not match.

April 8, 2019 in Concur against EURO is 1.12209455, but in OANDA it is 1.1245.

I was just curious which system Concur uses as we have some people that have to submit manual paperwork and would like them to use the same system. 

Thanks - 

[JessicaL]

We do not allow users to change the rates as we have had no issues as yet with the currency conversion rates. 

Best,

[dworth]

I was thinking of locking it down....  three issues I can think of pop into mind:

1.  What about CC transactions?  If imported, does it pick up the amount of USD charged instead of converting?  If not imported, we can then "lock" users into using the Concur calculated rate?  (Not sure where that setting is...)

2.  Over the long run, I would think minor changes in rates, from what people calculate they should be using versus what Concur uses, would be either minimal or a wash...  But is there a way to override the Concur rate for large purchases once it has been locked down?

3.  If not locked down, has there been any issues with people "manipulating" the rate or just making an error to get a larger reimbursement?  Is there a report that shows when a non-Concur rate has been used on a report?

Thanks!!