post a query in experts column n particularly Srinivasaraghavan sir

amend your exchange rate. u need to put excatly opposite of what you have keyed in defalut. once u have changed the exchange rate pass an entry in tally. this entry will eliminate the amt standing in the ledger account.I have seen this being used by one of my friend.

There is a solution to this .

rgds./nitesh

Create a ledger FOREX GAIN & LOSS under Indirect Expenses
Gateway of Tally >> Accounting Info >> Voucher Type >> Alter >> Journal >> Name of class. specify a name say 'Forex '
In the sub-screen, Use Forex Gain/Loss adjustments = yes >> select the Forex gain & loss ledger and accept.
To adjust the unadjusted forex gain/loss, pass a journal entry
Dr Party
Cr FOREX GAIN & LOSS
and select the references.
 

I do as per suggetions but the amount of forex gain/loss is debited in party's a/c. it means that the same amount is receivable from party but party is liable to pay only selling price amount then how and where I adjusted the forex gain/loss amount. please tell me.

Dear Subramanya,

There is some confusion with regards "NAME OF CLASS". I did cheked the tally in accounts information. There is no pop up to be selected for "CLASS".

I am not using Multi currency facility in TALLY Version 9. So how to go about it for "Name of the class".

Please do clear the confusion.

Please

Dear Neeraj,

When u raise Overseas Bill for overseas debtor u prepare the bill in USD.The accounting is done in tally in indian Rupee.So while accounting the sales the exchange rate is the factor by which u convert the USD sales to Indian rupee sales.

While realising the money from Overseas Debtor , u may collect the correct amt in terms of USD. But the exchange rate would have changed.Becasue of the change in exchange rate the company faces loss or gain.

It is this loss or gain which is accounted by way of debiting or crediting "Exchnage loss or Gain " and second effect is given to Debtor.

I think i have cleared ur doubts.

The discussion which is happening in this thread / forum is about the amt whcih tally automatically calculates and is reflected in debtors grouping. This is usually found if u have started multi currency facility . The amt is reversed by certain method and we all are discussing this point.

Dear Neeraj,

When u raise Overseas Bill for overseas debtor u prepare the bill in USD.The accounting is done in tally in indian Rupee.So while accounting the sales the exchange rate is the factor by which u convert the USD sales to Indian rupee sales.

While realising the money from Overseas Debtor , u may collect the correct amt in terms of USD. But the exchange rate would have changed.Becasue of the change in exchange rate the company faces loss or gain.

It is this loss or gain which is accounted by way of debiting or crediting "Exchnage loss or Gain " and second effect is given to Debtor.

I think i have cleared ur doubts.

The discussion which is happening in this thread / forum is about the amt whcih tally automatically calculates and is reflected in debtors grouping. This is usually found if u have started multi currency facility . The amt is reversed by certain method and we all are discussing this point.

Dear Mr.Bhuvanesh,

Kindly call me at 9789495540. I will be able to solve your issue.

warm regards,

C.Manigandan