14 May 2015
Sir, I have a doubt on whether foriegn exchange fluctuation has to be accounted for in this following case:
The party in London has sent his bill in GBP on 30/4/2015. Invoice was received by us on 4/5/2015. We booked expense in INR on the date of receipt of invoice and payment was made on the same day, i.e, 4/5/2015 in INR. In this situation will my have company have to book Exchange rate fluctuation as on 4/5/2015?
CAclubindia
