Exchange Rate

When you have an expense in a foreign currency, SRXP offers you the conversion amount in your main currency.
If you wonder how this exchange rate is calculated, this page is for you. 

Submitting reports with foreign expenses

SRXP provides the exchange rate for expenses in foreign currencies. The rate can fluctuate during the day, this is why SRXP only allow you to submit the reports containing foreign expenses after we collected the definitive exchange rate for this day. The definitive rate will more likely being set for a specific day at UTC +1.
If you create an expense before having a set exchange rate, we will use the latest known exchange rate (the latest definitive exchange rate) until we have the new one. 

 

Expenses from manual receipt

If you do not have a company credit card connected to SRXP or if you are paying in any other means abroad, you will have to declare your expenses manually.
In this case, SRXP will automatically calculated the exchange rate between the foreign currency and the default currency of your account. SRXP collects this rate from openexchangerates. Open Exchange Rates calculates the rate based on the information received regarding the two currencies on a specific day. Therefore, the rate used is the rate of the day of the expense. It also represents the exact exchange rate between 2 currencies and does not include any extra fee applied by cards issuer.

Expenses from Data Feed

When you are connected to the Data Feed, you see all of the expenses done with your company credit card. If you went abroad and did a couple of transactions in a foreign currency, then the credit card company will provide SRXP the exact exchange rate applied on your card. Therefore, your financial department will receive the identical rate used on the bank statement.