Syncing International Reimbursements

There are four key currency types:

1. Employee Bank Account Currency: The currency in which an employee's bank account is denominated.
2. Receipt/Expense Currency: The currency in which the original receipt or expense is recorded.
3. Payment Currency: The currency used for making the reimbursement payment.
4. Functional Currency of Entity: This is the primary currency of the entity

Reimbursement scenarios

There are two main scenarios for international reimbursements:

1. USD Business Bank Account Paying Internationally: Reimbursements involving payments from a USD-denominated business bank account to international employees.
2. Non-USD Bank Account Payments: Transactions involving payments from a non-USD bank account for international reimbursements.

Accounting limitations

The systems have certain limitations:

• They can represent a maximum of two currencies per expense.

• The exchange rate always converts to the entity’s functional currency.

Sync behavior by ERP

The behavior of different ERPs with respect to syncing payment and transaction currencies:

• Sage Intacct, QuickBooks Online, Xero, CSV: Syncs in payment currency.
• NetSuite: Syncs in the original receipt currency.

Syncing international reimbursements

Unlike U.S. reimbursements, international reimbursements are not available to sync to your ERP until they are fully paid.

For U.S. reimbursements, the transaction becomes available for sync immediately after approval. However, for international reimbursements, sync is delayed until the payment has been completed.

• If you're not seeing an international reimbursement available for sync, check whether the payment has been processed.

Exchange rates

• Exchange rates are pulled from the open exchange rate API.
• Rates are applied based on the transaction or approval date.
• Conversion rates cannot be applied for reimbursements made in a single currency.

Example 1: USD Business Bank Account + Paying International Employee

Context

• Your company is headquartered in the US, and your functional currency is USD.
• Your business checking account is held in USD.
• You have an employee located in France who submits an expense report in EUR.

Process

1. The employee in France uploads a receipt in EUR (the receipt/expense currency).
2. You approve the reimbursement in Ramp, intending to pay from your USD business bank account.
3. Because your functional currency is USD, the system calculates any necessary exchange rate from EUR → USD on the transaction or approval date.
4. When you sync this reimbursement:

Example 2: Non-USD Bank Account (International Reimbursement Debiting)

Context

• Your company is still headquartered in the US (functional currency = USD).
• However, you maintain a UK business bank account in GBP.
• An employee in the UK incurs expenses in GBP and needs to be reimbursed directly from your GBP account.

Process

1. The employee submits a receipt in GBP (the receipt/expense currency).
2. You approve the reimbursement in Ramp, choosing your GBP bank account to pay the employee.
3. The system applies the correct exchange rate to convert the transaction amount into USD for your entity’s underlying accounting (since your functional currency is USD).
4. When you sync this reimbursement: