Allow currency rates to be auto-increased
Credit cards often put a surcharge on the conversion rate. A company policy could be set to allow the exchange rate used to be the "official" rate plus x% to compensate.
Gary Lane
shared this idea
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Michael
commented
Generally the credit card uses a very 'similar' rate to the general mid-rates (these are variable of course depending on where they came from). In addition the credit card imposes a (typically) 2.5% surcharge on the base amount. I've implemented this as a 'Tax' called 'Card Fee' of 2.5% and set it as a Compound Tax. It is then marked as 'Tax Exclusive' in the expense. It comes out pretty close to reality, generally differing by only 0.05% or so. I could change the Card Fee to 2.55% to compensate but it would be better if Zoho re-calculated the exchange rate when an expense is 'matched'
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niklas andersson
commented
Hi Zoho, We suggested this idea 3 years ago. Any status update?