Receipts for exchange rates

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[edit] In foreign currency: Always with receipts for exchange rates

An example of a receipt for exchange rates
It doesn’t matter, what currency you were working with during project implementation. Anyway, often the evaluation can only be made in one currency. Therefore you have to document the exchange rate when having expenditures in “foreign currency”. To do so, you need evidence about the exchange rate you used. This can be prepared variously. Important is to attach a print or another written evidence to the costs evaluation in the documentation with details about source, date and exchange rate.

[edit] In case of long period of expenditures: One receipt suffices

If the costs in a foreign currency occur in a longer period and eventually you had to exchange the money several times, it often suffices to attach only one receipt of exchange rate to the evaluation, for example from the day when you obtained the money or when you exchanged or spent the biggest amount.

[edit] Currency fluctuations: Multiple receipts

Only if the exchange rate changed intensively during your project you should incorporate the current exchange rate to your evaluation and document it with other receipts.

[edit] Accuracy: All places behind comma

The exchange rates are to be stated with several numbers behind comma. Therefore you need to calculate with all these numbers when translating the currency. The final amount is to be commercially rounded to two decimal figures.

[edit] Exchange rate receipt from the Internet

As evidence you can use a print (A4 page) from the Internet. It helps to prove it when you mark the date and exchange rate.

[edit] Exchange rate receipt from the bank or exchange office

At exchange you get a receipt with the exchange rate and eventually accrued fees. If the receipt has also the function of evidence of fees, the copy is to be attached as receipt for exchange rate; the original belongs to the receipts list.

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