Hi there, I’m trying to add a bill paid by an employee but it doesn’t seem to want to let me save it. Could you help?

Hi there, I’m trying to add a bill paid by an employee but it doesn’t seem to want to let me save it. Could you help?

1 answer

Peter Connor Staff December 3, 2016

So Bullets telling you what’s wrong, you can’t have an employee paying fx bills. That’s because the company can’t reimburse an employee foreign currency.
You need to wait till the bank tells you the Euro amount.
Tks Pete.

  1. Sherlock December 3, 2016
    Thanks Pete.
    We're actually in a bit of a strange situation where our bank account is in sterling, we invoice (and our bullet account works) in dollars and some of our costs are in BRL so this is likely to be an issue.
    In this case, the payment was made in sterling - do I just need to convert this to USD to work in the system? If so, how can I find the appropriate rate - not sure our bank (Barclay's) shows us this - or do I just go with the interbank rate?

  2. Peter Connor December 3, 2016
    I so this is the case for all companies. It's the home currency Bullet will look for. So wait till the amount hits their bank accounts then use that FX rate.
    If your employees do a lot of purchasing it would be easier for you to get them a company credit card.
  3. Peter Connor December 3, 2016
    Ps the rate is always the rate in the statement (not some rate off zero.com or the like).
  4. Sherlock December 3, 2016
    Hi Pete,
    In this case then, would it be wisest to change our 'home' currency on Bullet to sterling?
    The linked bank account (and all employees' accounts) are in sterling. As such, there will be no conversion rate on the employee's statement. It was a sterling transaction from a sterling account.
    The only difference is that we invoice our clients in USD amounts...
  5. Peter Connor December 3, 2016
    Well. It's a 50 50 answer.
    So if your home currency and employees are in Stg.
    Then that would make sense.
    It would also be good. To open a dollar account and have your money paid into that. Then migrate money from USd to Stg using currency fair etc.
    Hope that helps.

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