What is the exchange rate applied in your expense reports? How to set a default currency?

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Calculation of exchange rates

Currency exchange rates are updated automatically within Eurécia every day. They follow the recommendations provided by the Banque de France.

Depending on the currency, the rate will be updated daily (yesterday's rate will be updated between 1:00 PM and 2:00 PM, Paris time, excluding weekends and public holidays) or monthly (on the 12th of each month, between 2:00 AM and 3:00 AM, Paris time).

Here is the list of the 30 currencies maintained by Eurécia: AUD, BGN, BRL, CAD, CHF, CNY, CZK, DKK, GBP, HKD, HUF, IDR, ILS, INR, ISK, JPY ,KRW, MXN, MYR, NOK, NZD, PHP, PLN, RON, SEK, SGD, THB, TRY, USD ,ZAR.

Note: It is also possible to manually add exchange rates. Check the following article to discover the steps to follow: Add or modify an exchange rate

When to enter an expense?

To enter expenses dated on the same day in a foreign currency, it is recommended to wait until the day after the expense and enter it after 2:00 PM (Paris time).

Example: an expense in dollars (USD) can be entered from 2:00 PM the next day. Eurécia will automatically convert this expense into the company currency, i.e., in euros (€) in the example, according to the rate in effect on the day of the expense.

The date of the expense and the date of entering the expense are therefore very important.

How to set a default currency?

For a currency to be suggested by default when entering expense reports, you must configure it from your company record.

Access: Admin area > Paramètres généraux > Ouvrir Fiche Société

• Open the company record
• Go to the 'Paramètres' tab
• Go to the 'Paramètres utilisateurs par défaut' section
• In the 'Devise (par défaut)' drop-down menu, select the currency
• Save

Keywords: Expense report · exchange rate · default currency · applied exchange rate · conversion · Banque de France