Calculating business expenses (when I paid in US dollars) question
Trying to figure out how to calculate expenses for purchases made in US dollars.
I have the actual amount I paid for the item on my credit card statement (credit card company converted the US purchase to Canadian dollars and charged my card). Is this the number I should use?
Or do I use the actual US dollar amount and multiply that by the CAN/US average exchange rate and use this number? Some receipts I have only show what was paid in US dollars.
Any help would be appreciated!
I have the actual amount I paid for the item on my credit card statement (credit card company converted the US purchase to Canadian dollars and charged my card). Is this the number I should use?
Or do I use the actual US dollar amount and multiply that by the CAN/US average exchange rate and use this number? Some receipts I have only show what was paid in US dollars.
Any help would be appreciated!