Name: Converting Foreign Currency Transactions in SAP Concur
Uploaded: 2023-10-5
Duration: 109 s
Description: When your travel takes you to different countries, you will need to convert your foreign currency transactions to your standard reimbursement currency. This video shows you step-by-step instructions on how to convert pounds to US dollars.

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<div>When your travel takes you to different countries, you will need to convert your foreign currency transactions to your standard reimbursement currency. This video shows you step-by-step instructions on how to convert pounds to US dollars.</div>

Converting Foreign Currency Transactions in SAP Concur

Converting Foreign Currency Transactions When your travel takes you to different countries, you will need to convert your foreign currency transactions to your standard reimbursement currency. In the following example, you will see how to convert pounds to US dollars for a lunch expense while on a business trip in London, England. If you have a corporate card, we recommend using it if possible, when traveling outside the country on business. To begin your foreign currency conversion, on the New Expense screen, complete the required fields (marked with a red asterisk) and any other fields designated by your company. Enter the City where your transaction occurred, or select the dropdown arrow, and then for this example, select London, United Kingdom from the list. When you add a new expense in a currency other than your own, you will see additional fields that allow you to convert the amount of your transaction to your standard reimbursement currency. The exchange rate comes from the Oanda Corporation, a foreign exchange company. However, you can change or modify it if your company would like to use a different exchange rate. For credit card transactions, the credit card vendor provides the exchange rate. For this example, enter the amount of your transaction in pounds. Note that the amount auto-populates to your standard reimbursement currency. Depending on the type of rate you receive, you can select the Reverse link to switch between multiplication of the rate to division of the rate. After you complete the necessary fields, select Save Expense. The Amount appears on your expense report for both the foreign currency and in your standard reimbursement currency.