By default, a Spend Cloud environment is configured with the Euro (€) currency, but you can also work with other/foreign currencies. When enabled, you'll find the currency settings in the Application Management / General / Currency menu.

With the 'Currency' menu enabled, you can add multiple currencies. When adding a currency, you can choose from a list of various currencies. If a currency is missing from the list, you can request the support department to add it to the selection.

After selecting a currency, you'll need to provide a currency symbol and an export code (which must match the linked financial package). We recommend allowing the exchange rate to be automatically updated by setting this option to 'Yes'. The exchange rate will then be updated overnight based on the rate determined by the European Central Bank (ECB). Since not all exchange rates are tracked by the ECB, there are currencies that cannot be automatically updated. In such cases, you'll need to manually provide an exchange rate.

In most cases, we use the exchange rate of the other currency solely to convert the amount to Euros for the authorization scheme.

An invoice is coded with £900 (GBP) and presented for approval to an authorized employee with an authorization limit of €1,000 (EUR). If the exchange rate at that moment is GBP 1 = EUR 1.1298, then the invoice will not be approved immediately after this employee's approval. In this case, since the invoice amount is converted to €1,016.82 (EUR), the invoice will be forwarded to a subsequent approver with a higher authorization limit, such as the manager with an authorization limit of €5,000 (EUR).

During an export to the financial package, in most cases, we include the original amount along with the export code. In the example above, the amount of 900.00 will be included along with the export code GBP.