dollor diff
This query is : Resolved
19 August 2009
WE MAKE A EXPORT SALE (USA) OF $106848
BUT IN OUR CURRENCY INVOICE MADE RS.52,67,640/-
& PARTY SEND US A DOLLORS 3 TIMES.
1. ADVANCE $21365 @ RS.49.16 i.e. RS.10,50,284.74
2. AFTER SALE $74786 @ RS.48.73 i.e. RS.36,44,302.29
3. & LAST $10680 @ RS.47.89 i.e. RS.51,14,55.62
NOW AT THE LAST IN OUR ACCOUNT SHOWS OUTSTANDING OF RS.61,598.35
I WANT TO CAN I WRITE OFF THIS AMOUNT?
IF YES, TELL ME UNDER WHICH ACCOUNT HEAD?
IF NO, TELL ME WHAT I DO WITH THIS FIGURE?
TELL ME JOURNAL ENTRY WHICH I WILL USED IN TALLY.
BUT IN OUR CURRENCY INVOICE MADE RS.52,67,640/-
& PARTY SEND US A DOLLORS 3 TIMES.
1. ADVANCE $21365 @ RS.49.16 i.e. RS.10,50,284.74
2. AFTER SALE $74786 @ RS.48.73 i.e. RS.36,44,302.29
3. & LAST $10680 @ RS.47.89 i.e. RS.51,14,55.62
NOW AT THE LAST IN OUR ACCOUNT SHOWS OUTSTANDING OF RS.61,598.35
I WANT TO CAN I WRITE OFF THIS AMOUNT?
IF YES, TELL ME UNDER WHICH ACCOUNT HEAD?
IF NO, TELL ME WHAT I DO WITH THIS FIGURE?
TELL ME JOURNAL ENTRY WHICH I WILL USED IN TALLY.
22 August 2009
This amount can be w/off through a new account i.e. Exchange Fluctuation account and it will be part of trading account. At the end of year this account will show the net of fluctuation that may be gain or loss. Journal entry is:
Exchange fluctuation a/c Dr 61598.35
To Party account 61598.35
Exchange fluctuation a/c Dr 61598.35
To Party account 61598.35
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- STCG on ETF gold & silver
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Loan by Partnership Firm
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
