Calculation of foreign exchange gain or loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2012
XYX KPO IS PROVIDING OUTSOURCING SERVICE, IT ISSUED INVOICE OF $12000 FIXED ON 1ST OF EACH MONTH, AND AFTER THAT CLIENT TRANSFER THAT AMOUNT VIA WIRE, WHICH IS RECEIVED BY XYZ KPO ON NEAR BY 10TH OF MONTH. IN THIS SITUATION AT WHICH PRICE REVENUE SHOULD BE BOOK?? AND WHAT SHOULD BE FOREIGN EXCHANGE GAIN OR LOSS???
pls reply me my mail id is smparmar1412@gmail.com
pls reply me my mail id is smparmar1412@gmail.com
Amol S Joglekar
(Expert)
19 September 2012
When invoice is issued in USD, where comes the question of LOSS/GAIN. You are getting the 12000 USD whether on 10th or otherwise.
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