How reimbursement exchange rates work
If you pay for an approved expense in one currency and receive your reimbursement in another, the number you receive will usually not match the number on your receipt. That does not mean part of the expense was missing from the reimbursement — the currencies have different values.
Juno uses the exchange rate for the date of each expense to calculate its reimbursement value. It converts the expense into US dollars as an intermediate value, then converts that value into the currency of your selected reimbursement method.
What determines your reimbursement amount
For each approved expense, Juno uses:
- The amount and currency on the expense you submit
- The purchase date you enter for that expense
- The currency of your selected reimbursement method
- The approved amount, if your expense was partially approved
The purchase date matters because exchange rates change over time. An expense from Monday and an expense from Friday can use different rates, even when they are included in the same reimbursement.
Juno calculates the reimbursement using the historical rate for the expense date, not the rate on the day the reimbursement is sent.
Examples
The examples below use sample rates for illustration. Actual exchange rates vary by date.
You paid in euros and receive British pounds
You submit a receipt for EUR 100.00. On the purchase date, the sample rate is EUR 1 = USD 1.10 and USD 1 = GBP 0.80.
Juno first values the expense at USD 110.00, then converts it to your payout currency:
EUR 100.00 × 1.10 = USD 110.00
USD 110.00 × 0.80 = GBP 88.00
Your reimbursement is GBP 88.00. It is not EUR 100.00 because you are receiving pounds, not euros.
You paid in US dollars and receive Canadian dollars
You submit an approved expense for USD 125.00. On the purchase date, the sample rate is USD 1 = CAD 1.35.
USD 125.00 × 1.35 = CAD 168.75
Your reimbursement is CAD 168.75. The higher number reflects the different unit value of Canadian dollars; it does not mean you were reimbursed more than the approved USD 125.00 value.
You have expenses from different dates
You submit two approved expenses and receive euros:
| Expense | Purchase date | Approved amount | Sample rate | Reimbursement value |
|---|---|---|---|---|
| Taxi | May 1 | USD 50.00 | USD 1 = EUR 0.92 | EUR 46.00 |
| Meal | May 5 | USD 50.00 | USD 1 = EUR 0.90 | EUR 45.00 |
Juno calculates each expense using its own purchase-date rate, then combines the results. In this example, the reimbursement total is EUR 91.00.
Partial approvals
If an approver approves only part of an expense, Juno converts the approved amount rather than the full amount you submitted. For example, if you submit USD 100.00 but only USD 75.00 is approved, your reimbursement is based on USD 75.00 and the exchange rate for the expense date.
Rounding
Exchange-rate calculations can include fractions of a currency unit. Juno rounds the final reimbursement amount to two decimal places in your payout currency. This can create a small difference from a manual calculation that uses a different number of decimal places.
How to avoid unexpected amounts
- Enter the correct purchase date and currency when you submit an expense.
- Keep your receipt so you can verify the amount, currency, and purchase date.
- Review the amount approved for any partially approved expense.
- Check that your selected reimbursement method uses the currency you expect before payment is sent.
For help setting or updating your reimbursement method, see Setting Up Reimbursement Methods. For help submitting an expense, see Submitting Expenses.