For users who do not integrate their corporate or personal cards with Emburse Professional, it is difficult to align the Emburse Professional exchange rate with the actual exchange rate incurred when travelling internationally. If the user's credit card provider is using a different exchange rate source than Emburse Professional the amounts may not line up perfectly. While the differences in exchange rate sources appear minor, conversion for large expenses, such as Airfare or hotels, could fluctuate by several dollars depending on the sate source used.
This feature allows international travelers to make sure they are entering their receipts correctly, while also being reimbursed exactly what they are owed, regardless of the minor differences in exchange rate.
This article shows you, a Emburse Professional Administrator, how to enable currency conversions in your Emburse Professional account.
1. On your Emburse Professional homepage, click the gear icon.
2. Click View and Edit Policy.
3. Click the checkbox to Allow users to adjust currency conversions. After you've clicked the checkbox, set a policy limit to ensure users do not abuse the feature.
The policy states that any expense will be flagged if the adjusted amount is 10% greater than Emburse Professional's default currency conversion.
4. Now that it's enabled, open the expense report in question and enter the expense details.
Please Note: Conversions can only be adjusted in a draft expense report. Users will not be able to adjust currency conversions on the mobile app, nor in the wallet.
5. When the currency is changed to something other than your default currency, the Converted Amount field appears.
Please Note: Currency adjustments are not available when splitting an expense.
6. If Emburse Professional's conversion does not align with what you actually paid, adjust the Converted Amount field.
Please Note: You cannot change the Converted Amount currency. The Converted Amount currency will always be your default currency as defined on the My Account page.
7. Click Save. The Converted Amount field will appear in the Amount field in the expense report.
Hovering over the currency tool tip will show the original expense amount, as well as the default Emburse Professional converted amount.
If the user exceeds the policy limit, a policy violation will appear in the details column. Any policy violations will appear in the Expense Policy Review report.