Expenses in foreign currency
yeimmyc15
UKRegistered Posts: 5
in Bookkeeping
Hello,
I need advice in the following:
some colleagues are continually travelling to Spain and they submit expenses report. The original receipts are in Euros but we paid in GBP.
Can we post these expenses report in GBP instead than EUR in Xero?
Is this procedure supported for Accounting Standards?
Thank you so much for your help on this matter.
Best regards,
Elizabeth
I need advice in the following:
some colleagues are continually travelling to Spain and they submit expenses report. The original receipts are in Euros but we paid in GBP.
Can we post these expenses report in GBP instead than EUR in Xero?
Is this procedure supported for Accounting Standards?
Thank you so much for your help on this matter.
Best regards,
Elizabeth
0
Comments
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Yes. Use the exchange rate applicable at the transaction date.1
