BRC for invoice in INR

This query is : Resolved

Jaffar (Querist)
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19 November 2010 Dear Sir

I am confussed regarding BRC for invoice in INR, If we make Invoice in INR and received the payment in USD

Suppose
Inv Value in INR is - 100000
At the time of payment Party Transfer - 2173.91 @ 46 (i.e. 100000/46 = 2173.91, as party made full payment in USD at rate of day transfered)
As we received the same amount in EEFC account after deduction of USD 25 as bank charges i.e. (2173.91-25 = 2148.91),
but on date of transfering from EEFC account USD rate was 45.5.
So : - 2148.91 X 45.5 = 97775.41 INR

Loss due to USD fluctuation (100000-97775.41 = 2224.6)

Now, my doubt is,

- - - Is these BRC will be remarked by Authorised Dealer or Bank as "Part Realizied" as it's a loss due to fluctatuation in USD rate nor of short payment, while party has made full payment and no further payment is going to come against these invoice.

Pls clear ny these doubt

Thank & Regards

Jaffar

Hitender Gaur

Hitender Gaur (Expert)
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20 November 2010 In each time you will not get loss, in some transaction you will get the profit due to change in Forex. So, mentain a Forex (Charges/Exp.) and pass necessary entry to actual accountability. in the end of year Dr. or Cr. balance will determine the profit of loss due to rate change in forex and prepare your accounts accordingly.

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