Exchange rate difference
This query is : Resolved
23 August 2011
Dear All,
I have made export sale in Feb-2011,by the end of march this sale invoice couldn't be realized. I made a entry on 31.03.2011 as under:
Exchange Rate Difference .. .. Dr.
To Sundry Debtors
Also, this is to inform you that at time of sale currency conversion rate was more than the the currency conversion rate on 31.03.2011
I wanna know whether above mention entry is as per act or not.
I have made export sale in Feb-2011,by the end of march this sale invoice couldn't be realized. I made a entry on 31.03.2011 as under:
Exchange Rate Difference .. .. Dr.
To Sundry Debtors
Also, this is to inform you that at time of sale currency conversion rate was more than the the currency conversion rate on 31.03.2011
I wanna know whether above mention entry is as per act or not.
23 August 2011
This entry is in accordance with AS-11.
Income Tax will allow the same.
Income Tax will allow the same.
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