Accounts Payable
Accounts Payable
Foreign Travel
Foreign travel is any travel outside the United States and the U.S. Territories of Guam, Puerto Rico and the U.S. Virgin Islands.
Currency Converter
Travelers are responsible for converting expenses denominated in foreign currencies to U.S. dollars when completing reimbursement forms. A copy of the conversion rate(s) used must be attached to forms submitted to the Controller's Office.
The FXConverter located at Oanda.com is a tool that will convert foreign currencies into U.S. dollars based on historical foreign exchange rates.
Here are step-by-step instructions for using this tool with College expense reimbursement forms:
1. Click here to access the Oanda.com website
2. Enter a start date and end date - these should correspond with the dates of travel
3. Select the foreign currency that was used from the left-hand table
4. Select U.S. Dollar from the right-hand table
5. Select Typical Credit Card Rate + 2% from the drop down box on the lower left
6. Now, click on Get Table
7. An Average, High and Low rate will be displayed below the table that lists out each individual day's rate. The Average rate may be used to convert expenses for the entire trip.
8. Print the table and attach it to the reimbursement form
Foreign Per Diem Rates
As an alternative to keeping receipts for meals and lodging, travelers may choose to be reimbursed on a per diem basis. The reimbursement will be based on the number of days traveling, the location of travel, and the per diem rate in effect for that location and time. Travelers opting for per diem reimbursements should not use a College-issued corporate credit card to pay for those expenses.
Foreign Per Diem Rates are established by the U.S. Department of State and can be accessed by clicking below: