28 August 2012
How to pass the journal entry in Tally for the following transactions:- Date- 01/05/2012 An Indian company raise a proforma invoice to a foreign client amounting EURO 1,000/-. Date-05/05/2012 Foreign client remit Euro 1,000/-, in the FIRC, rate for Euro is mentioned EURO 1=INR 65. Date- 02/06/2012 Indian company raise a Final invoice to the same client for Euro 2,000/- , and gets the payment on 06/06/2012. In FIRC rate for Euro is Mentioned as i)1 EURO=INR 70, ii)1 EURO=INR 60.
29 August 2012
I think there would be no etnry for proforma invoice and payment received against proforma invoice should treated as advance from customer.
advance from customer ac debit to 65000 to debtor ac 65000
at the time of raising an invoice
debtor account debit to 140000 saleas equipment account 140000 suppose at the time of raising an invoice euro rate is 70
now we will received the payment and euro rate is 70
bank account debit 700000 advanced from customer ac debit 65000 forex gain/loss account debit 5000 to debtor account 140000
CAclubindia
