Prepare your claim
This calculator was designed in accordance with the National Joint Council Travel Directive and supporting Foreign Currency Conversion Calculation Methodology.
Instructions:
Before you begin, please:
- Sort all your foreign currency receipts (including your credit card statement, if available) into like-currency.
- Enter your expenses in your travel claim:
- For foreign receipt-based expenses where the exchange rate is documented (e.g. accommodation charge on credit card statement), use the documented rate.
- For foreign receipt-based expenses where the exchange rate is not documented (e.g. taxi fare paid in cash), enter a temporary rate which you will change later to the weighted average exchange rate.
- For foreign meal and incidental allowances, enter a temporary rate which you will change later to the weighted average exchange rate.
- Review your claim to obtain the total expenses in the foreign currency.
Currency Information
Define the currency and dates of travel for your claim:
- If you have incurred expenses in multiple foreign currencies on this claim, you will need to calculate the weighted average exchange rate for each currency separately.
- Where applicable, this service will connect with Bank of Canada rates to determine the exchange rate for the period. If the dates of travel coincide with dates where the currency markets are closed, the dates will be adjusted to the previous business day.
- Not all currencies are available from the Bank of Canada's rate information service, in which case, you will need to enter the rates for first and last day manually.
Expenses Claimed
Enter the foreign currency transaction information relevant to your claim, following the instructions accessible by clicking in each data entry field.
Currency Exchange Receipts
Enter the foreign currency transaction information relevant to your claim, following the instructions accessible by clicking in each data entry field.
Finalize your travel claim
Now that you have calculated the weighted average exchange rate for the specified foreign currency, you can finalize your travel claim:
- Download and save the Weighted Average Exchange Rate for Travel Claims form PDF. You will need to attach this to your claim.
- Go back into your claim and replace any temporary rates with the calculated weighted average exchange rate for each foreign currency. The weighted average exchange rate should be used for all foreign currency expenses on your claim that do not have a documented exchange rate (e.g. meals and incidentals allowances, expenses paid in cash).
- Complete your claim and submit to your manager for approval.
- Remember to attach your currency exchange receipts and the weighted average exchange rate form(s) to your travel claim.
