Using Abacus for Foreign Currencies

If you incur an expense in a foreign currency, enter it in Abacus and we’ll convert it into US Dollars for you.  If you pull in card transactions on a connected card, any transaction made in a foreign currency will already be converted to US Dollars when it appears in your Abacus account. 

What does the process look like on mobile?

1. Click on the USD to the right of the amount field.

2. Select the currency of your expense.

3. Then, enter in the amount you’re expensing. Abacus will automatically convert it to US Dollars.

What does the process look like on the web?

1. Click on the USD to the right of the amount field.

2. Select the currency of your expense.

3. Then, enter in the amount you’re expensing. Abacus will automatically convert it to US Dollars.

How does it work?

We connect with an open currency API to retrieve exchange rates in real time. When an expense is submitted in a different currency, we apply the current exchange rate to that expense, and it will be submitted into the Abacus system in US dollars. By default, we’ll apply the exchange rate of the date on the expense. If the date on the expense is changed, the correct exchange rate for that day will be automatically applied to the amount.  

When you export this data into a CSV, the line for an expense will include the amount in USD as well as the amount in the foreign currency that was used for the purchase. For more information on exporting expense data into a CSV or PDF, please see this support article.

Still need help? Contact support@abacus.com