Usage of Corporate Card for Foreign Transactions
August 7, 2024
The OANDA currency conversion calculation sheet should NOT be included as an attachment to the expense report when reconciling corporate card transactions.
When the corporate card is used for a foreign transaction, it is reported by the bank in both the original currency and US dollars. Users trying to calculate the US dollar amount using OANDA will notice that the calculated amount does not match the dollar amount listed by the bank. This is because the US dollar amount reported by the bank includes an international fee. Users must use the US dollar amount reported by the bank on the expense report.