How to convert currency for expenses
PURPOSE
Currency conversion helps report expenses paid in a currency different from the reporting currency.
WHAT TO INCLUDE
Record the original currency, original amount, converted amount, date, and exchange rate source if required.
USE CONSISTENT SOURCES
Use card statement amounts, official exchange rates, or the approved conversion method.
CHECK RECEIPTS
Keep original receipts showing local currency.
BEST PRACTICE
Do not manually estimate if an official converted card amount is available.