Features · · 5 min read

Receipts in euros or dollars: converted at the ČNB rate

Which exchange rate applies to an expense in EUR or USD? Taxorio uses the ČNB daily rate for the supply date and confirms such receipts in bulk.

A software subscription billed in dollars, ads paid in euros, hosting charged in pounds. You run your business in Czechia, but a slice of your costs never arrives in Czech crowns — and each of those receipts used to mean the same chore: look up the ČNB (Czech National Bank) rate for the right day, convert, type the number in, hope you did not slip a digit. Taxorio now does that part for you, and it does it for a whole batch at once.

Which rate applies to an expense in a foreign currency

Czech tax records are kept in crowns, so a foreign-currency expense has to be converted. The usual basis is the ČNB daily rate for the date of taxable supply — in Czech DUZP, the day the expense actually happened, not the day you got round to entering it. That distinction is where most of the mistakes come from: you file a receipt from a trip three weeks later and instinctively reach for today's rate.

Taxorio settles it in the background. For every document in a foreign currency it fetches the ČNB rate for the supply date and converts the amount itself. The document then keeps three things side by side: the original amount, the rate that was used and the result in crowns. If the tax office ever asks, you can show exactly how the number was reached.

Bulk confirmation now covers foreign currencies too

Until recently, receipts in a foreign currency had to be confirmed in the expense inbox one at a time. That is no longer the case. Once an AI scan or an ISDOC import has filled the inbox, bulk confirmation handles euros, dollars and the other supported currencies as well — each document is converted at the ČNB rate for its own supply date at the moment it is confirmed.

💡 A practical scenario: you come back from a business trip with ten receipts — fuel in Austria, a hotel in Germany, lunch in Slovakia. You photograph them with your phone, the AI scan reads them, and then you confirm the whole batch in one click. Taxorio looks up the rate for each individual date on its own.

When Taxorio stops and asks

Bulk does not mean blind. Any document whose tax treatment is not unambiguous is kept out of the batch, and the reason is shown next to it:

  • No exchange rate available. For a currency the ČNB does not quote, or when its service is unavailable, bulk confirmation does not record the receipt and shows the reason. Record it through the expense form instead: it offers CZK, EUR, USD, GBP, CHF and PLN and lets you enter the rate yourself; a receipt in any other currency goes in as an amount in crowns. Weekends and public holidays are not a problem — the last published rate is used. A supply date that has landed in the future — typically a US-format date (MM/DD/YYYY) read as a European one — is flagged in the document detail, but bulk confirmation does not stop it (the last published rate would be used), so check the date before confirming.
  • A foreign supplier and a possible reverse charge. For a service bought from abroad you have to work out whether the tax liability shifts to you; see reverse charge on foreign services.
  • Something on the document itself is unclear. Several VAT rates on one invoice, a rate that no longer exists, or a missing rate. These go through the single-document route so you can see what you are confirming.

Everything else goes straight through. The aim is narrow and deliberate: the routine runs itself, the exceptions come with an explanation.

What about income in a foreign currency?

Issuing in a foreign currency works the same way. Taxorio supports invoices in CZK, EUR, USD, GBP, CHF and PLN, and looks up the ČNB rate for the supply date exactly as it does for expenses. Which rate to use and how to record foreign-currency income properly is covered in invoicing in a foreign currency.

In short

Foreign-currency documents are no longer second-class citizens in your records. Taxorio finds the ČNB rate for the supply date, converts the amount to crowns and now includes such documents in bulk confirmation alongside the rest. What is left for you are the exceptions — and even there, the app tells you what to check and why.

⚠️ Current Taxorio scope: automatic ČNB conversion covers received documents and expenses. Supported document currencies are CZK, EUR, USD, GBP, CHF and PLN. All tax figures and exports are calculated in CZK.

Taxorio scope: Taxorio provides invoicing and income/expense records for Czech sole traders. It is not full accounting or personalised tax advice. For an unsupported or unusual case, verify the treatment with a Czech accountant or tax adviser before filing.

Frequently asked questions

Which exchange rate should I use for an expense in a foreign currency?
For Czech tax records the usual basis is the ČNB daily rate for the date of taxable supply (DUZP). Taxorio looks that rate up and converts the amount automatically — the document shows the original amount, the rate used and the result in crowns.
Do I have to confirm foreign-currency documents one by one?
No longer. Bulk confirmation in the expense inbox now covers documents in a foreign currency as well — each one is converted at the ČNB rate for its own supply date as it is confirmed. Only the exceptions are left for individual confirmation, for example when no rate is available.
What if the ČNB does not quote a rate for my currency?
Bulk confirmation does not record the document and shows the reason. Record it through the expense form — for CZK, EUR, USD, GBP, CHF and PLN you enter the rate there yourself; a document in any other currency goes in as an amount in crowns. Nothing is lost — the document simply is not confirmed automatically without you looking at it.
Can I see which exchange rate was applied?
Yes. For every foreign-currency document Taxorio stores the original amount, the ČNB rate used and the converted amount in crowns, so you can document how you arrived at the figure if you are ever asked.