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Automatic exchange rates for expenses

Let Expense suggest an exchange rate when users register expenses in a foreign currency. You activate the feature and add the currencies, and the amount is converted automatically to your base currency (SEK by default).

💱 How do automatic exchange rates work?

When the feature is activated and a user registers an expense in another currency:

  • 🌍 Expense recognizes the currency
  • 💱 An exchange rate is suggested automatically
  • 📊 The amount is converted to your base currency (SEK by default)
  • ✅ No manual calculation is needed

👉 Applies to: administrators who set up currency handling. Users find how to turn the feature on in the article Suggested exchange rate in the app under User.

⚙️ Step 1 – Activate Suggest exchange rates

  1. Go to Administrate > Settings > Misc.
  2. Select Suggest exchange rates.
  3. Click Save.

✅ The feature is activated for the organization.

🌍 Step 2 – Add currencies

  1. Go to Administrate > Currencies.
  2. Add the currencies your users need, for example GBP, HKD, TRY or TWD.
  3. Save.

✅ Exchange rates are only suggested for currencies that have been added.

📱 Step 3 – Users turn on the feature in the app

For the suggestions to appear in the app, each user turns on Suggest exchange rate in the app settings. Share the article Suggested exchange rate in the app when you inform your users.

🔎 Where do the rates come from?

Expense fetches market-based exchange rates from:

  • 🌍 Open Exchange Rates (openexchangerates.org)
  • 📊 Exchange Rates API (exchangeratesapi.io)

🎯 When is the feature useful?

  • ✈️ Employees travel abroad
  • 🌍 You have many expenses in foreign currency
  • 📊 You handle several currencies

💡 Tips for best results

  • ✅ Add relevant currencies in advance
  • 📢 Ask all users to turn on the feature in the app
  • 🔍 Check suggested rates on unusual purchases

❓ Frequently asked questions (FAQ)

Does the user have to enter the exchange rate manually?
No, Expense suggests a rate when the feature is activated.

Can the exchange rate be changed?
Yes, the user can adjust the rate if needed, depending on your company policy.

Does it work for all currencies?
The feature applies to the currencies added under Administrate > Currencies.

Where are the rates fetched from?
From Open Exchange Rates and Exchange Rates API.

✅ Summary

  • ⚙️ Activate Suggest exchange rates under Administrate > Settings > Misc
  • 🌍 Add the currencies under Administrate > Currencies
  • 📱 Users turn on the feature in the app
  • 💱 The amount is converted automatically to your base currency (SEK by default)

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