accounting entry for foreign currency purchase

This query is : Resolved

vijayabhaskarareddy (Querist)
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14 November 2008 my boss is going to abroad for official visit, for that we bought foreign currency form authorised dealer , let me know the accounting entrie for the above transaction.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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14 November 2008 Tours & travelling (Foreign) Dr

Travel/ Financer Cr
Being amt od USD 000 purchase for foreign **** travelling)

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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14 November 2008 Travel advance (in INR)Dr.
To Bank
(At the time of purchase and handing over the currency for travel, by actual payment of INR)

Ravikumar.G

Ravikumar.G (Expert)
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17 November 2008 It should be treated as an advance (i,e Travel advance) should be debited in the books.

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