Can Xero, QBO, and NetSuite sync transactions in the entity’s local currency?
Short answer
It depends on the accounting integration and transaction type. Ramp can sync the original transaction currency, card statement currency, or accounting provider’s configured currency, but each integration has its own rules for card transactions, bills, and reimbursements.
What determines the synced currency
The entity’s local currency is only one part of the setup. The sync result also depends on the card’s statement currency, the merchant’s transaction currency, the accounting provider’s enabled currencies, and the provider’s entity or subsidiary configuration.
Before enabling a multi-currency workflow, finance teams should confirm that the required currencies are enabled in the accounting system and that vendor, subsidiary, and bank-account settings can accept the intended currency.
How Ramp syncs currencies by accounting integration
NetSuite
Ramp supports multi-currency accounting for international entities. When a subsidiary has a non-USD functional currency, Ramp syncs a transaction in its original currency when the vendor accepts that currency. NetSuite then converts the transaction into the subsidiary’s functional currency for accounting. If the vendor or NetSuite configuration cannot accept the original currency, Ramp uses the subsidiary’s primary currency instead.
Xero
For international bills, the relevant foreign currency must be added in Xero before the bill syncs. For international reimbursements, Ramp syncs the record in the payment currency. Currency behavior for other transaction types depends on the Xero configuration and Ramp sync settings.
QuickBooks Online
Ramp card transactions sync to QBO in USD. Reimbursements sync as bills and bill payments, with the expense and liability entries recorded in the original currency.
For UK and Canadian entities, Ramp’s international accounting settings determine whether Ramp uses the original transaction currency, the card statement currency, or the connected accounting provider’s configured currency.
See how Ramp automates accounting for local entities:
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