When employees receive cash advances in one currency and settle expenses in another (or on different dates), foreign exchange rate differences arise. This feature detects, calculates, and posts realized exchange rate variances between the advance issue rate and the settlement or report rate, ensuring accurate reimbursement amounts, GL impact, and auditability without manual adjustments.
This feature ensures that:
Cash advances are based on transaction currency, not just accounting currency.
You can calculate and post realized foreign exchange (FX) gains or losses explicitly.
Employee (vendor) accounts always net to zero after settlement.
Finance teams gain clear visibility and auditability into exchange rate variances.
Business Value:
With this feature, you can handle exchange rate differences with confidence. This capability makes settling cash advances easier by using the transaction currency instead of just the accounting currency. It also posts any realized foreign exchange gains or losses, so your books stay accurate.
You'll see clear benefits: employee accounts always balance to zero after settlement, and your finance team gets full visibility into exchange rate variances. This means fewer reconciliation headaches and better audit readiness, saving time and reducing errors.
Enabled for:
Enabled for end users automatically
GA date: March CY2027
Preview date: July CY2026