GlossaryReceipts

Foreign currency receipt

How receipts in a foreign currency are converted into euros, which rate applies and what must be documented for accounting.

Conversion into euros
Rate on the receipt date or as per statement
Document traceably

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A foreign currency receipt is an invoice or receipt in a currency other than the euro, for example a hotel bill in US dollars or a taxi receipt in Swiss francs. Such receipts arise above all on business trips abroad. For the travel expense report and accounting, the amount must be converted into euros.

What a foreign currency receipt needs

Date of the receipt
Amount with the currency
Name of the issuer and type of service
foreign VAT, if applicable

If the currency is missing, the amount is not clear. A credit card or bank statement then helps as additional proof.

Which rate applies for the conversion?

No specific rate is prescribed by law for expenses. What matters is that the conversion is traceable and consistent. Common options are:

the rate on the receipt date, for example the reference rate of the European Central Bank,
the amount actually charged as per the credit card or bank statement if paid by card. Foreign fees are then also documented,
for VAT, the monthly exchange rates published by the Federal Ministry of Finance (§ 16 (6) UStG).

Foreign VAT

VAT from abroad, for example on a hotel bill in France, cannot be deducted as input tax in Germany. Companies can only reclaim it in the refund procedure of the respective country. In the report, the gross amount therefore usually counts.

Booking an invoice in a foreign currency

The converted euro amount is booked. So that the conversion remains traceable later, the original amount, currency, rate and source of the rate should be kept together with the receipt. Additional VAT rules apply to your own outgoing invoices in a foreign currency, which are best clarified with your tax advisor.

Foreign currency receipts in Spesenfuchs

Spesenfuchs records receipts in the original currency and automatically converts them into euros at the rate of the receipt date. Original amount, rate and source of the rate remain visible, including during approval. If the option is active in the settings, you can enter your own rate, for example as per the credit card statement. If it deviates by more than 30%, Spesenfuchs shows a warning. More under exchange rates and currency conversion.

Legal basis and sources: § 16 (6) UStG, § 147 AO

How Spesenfuchs helps

Related features for foreign currency receipts

CaptureExchange ratesForeign currency receipts are converted at the rate of the receipt date.CalculatePer diems by countryStatutory daily and overnight allowances for every destination.CaptureDigitise receiptsAI reads date, amount and VAT automatically.CaptureMobile appPhotograph receipts right after purchase, they land in your receipt inbox.CapturePayment methodsCompany card, cash or private: Spesenfuchs knows what gets reimbursed.ApproveApproval workflowSubmit trips and receipts, approvers decide with one click.

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