There’s no doubt about it: global business travel presents some unique challenges for expense reporting. In one trip, a road warrior can visit a few different countries—each with their own currency. And while there’s no doubt that this is a glorious opportunity for new business (and a chance for the traveler to have some fun!), it can add up to a lot of headaches for the travel administrator.
But when you’re working with Nexonia Expenses to manage multi-currency expense reports, headaches become a thing of the past. At least those associated with multi-currency expense reports. You simply won’t hear yourself sighing aloud…
“Oh, no, not another international business trip!”
Multiple currencies complicate an already complex expense reporting process. Fluctuating currency values, multiple taxes and country-specific mileage rates are just a few of the sticky issues administrators have to contend with when reviewing documentation, matching expenses and reconciling payments.
Nexonia’s answer: “More than one currency? No Problem!” Nexonia Expenses does the heavy lifting for you. The software’s multi-currency support allows travelers to submit their reports in an unlimited number of currencies—and it automatically calculates the amount in their home currency using daily rates. Since Nexonia Expenses supports all the VATs in the world, this powerful system calculates taxes accurately no matter how the payment was made.
“Another miscalculated expense!”
The potential for human error on manually created and processed expense reports can be significant. Factor in multiple currencies, and you can spend a lot of time and energy trying to get the numbers to work out just right: accurately, balanced, and on-budget.
Nexonia says, “Eliminate hand calculations altogether!” Nexonia Expenses is highly intuitive. It uses the currency exchange rate on the day of the expense. Nexonia also automates personal, business and corporate credit cards, so that each report is aligned with the transaction.
“It’ll take weeks to get that expense report submitted!”
A business traveler crossing borders is a busy traveler, passport in-hand and business matters on their mind. They’re potentially dealing in more than one language, and as we know all too well, they’re probably dealing with multiple currencies. When they’re home from their trip, the first thing they’ll want to do is get reacquainted with their time zone—not create their expense report.
Nexonia says, “Creating an expense report on-the-go is easy.” With cloud-based Nexonia Expenses and our mobile app, travelers can track expense reporting at every level. They can create a report before their trip (or on the plane ride) or at the time of their first expense and enter transactions as they go. They can even submit their report before you see them back at their desk. And system integrations mean the home office (wherever in the world your company calls home) has access to their report. You end up with a single currency report—one that just might arrive ahead of schedule.