EXCHANGE RATE
This query is : Resolved
02 December 2009
Please tell me about this suituation for Exchange rate ?
In the present suitutaion for my business that i have paid to supplier for advance payment of 20% of total amount.
And 80% has paid after 1 months.
please resolved my this query
20% paid on Rs. 49 $
and 80% on rs. 50 $
And also goods are also received when 80% is paid. so in this transaction what is the exchange rate different created on which date?
In the present suitutaion for my business that i have paid to supplier for advance payment of 20% of total amount.
And 80% has paid after 1 months.
please resolved my this query
20% paid on Rs. 49 $
and 80% on rs. 50 $
And also goods are also received when 80% is paid. so in this transaction what is the exchange rate different created on which date?
CA. SUDHARSAN K G
(Expert)
02 December 2009
Payment $
Now 49
After I Month 50
Dear,
Logically, Goods are Received only after settling the Balance Amount.
Hence, here there is no Foreign Exchange Difference
You have to debit the respective Account
Now 49
After I Month 50
Dear,
Logically, Goods are Received only after settling the Balance Amount.
Hence, here there is no Foreign Exchange Difference
You have to debit the respective Account
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