Exchange gain & loss entry
This query is : Resolved
Deepak Gagrani
(Querist)
06 October 2012
Dear all
please explane me entry of Exchange gain & loss
if loss which gl effected
If profit which gl ettected & any material cost gl effect at the time of exchange entry passing
please explane me entry of Exchange gain & loss
if loss which gl effected
If profit which gl ettected & any material cost gl effect at the time of exchange entry passing
06 October 2012
company create a separate gl as forex gain/loss and net impact in this account shows as forex gain/loss.
suppose we have foreign debtors and at the time of reinstating we realize that we have forex gain of rs 1 Lac , in that case entry would be
debtor account debit to 100000
forex gain 100000
suppose we have foreign debtors and at the time of reinstating we realize that we have forex gain of rs 1 Lac , in that case entry would be
debtor account debit to 100000
forex gain 100000
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