Foreign exchange conversion on foreign trips
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2014
I wanted to know that if any employee went for foreign tour and foreign currency is given to him by card. At the time of settlement of travelling bill the expenses should be booked on which conversion rate? The date of giving the dollar or the actual date of expenses incurred?
23 May 2014
The date of giving the dollar. Since the point of incurrence of the expense for the company will be on the date of settlement, the date of giving the $ will have to be accounted for.
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