Exchange Rate on Export Bills
This query is : Resolved
11 June 2011
Dear All,
In export transaction most of time it happens that few export bill are remain to be received from the buyer by the end of financial year. In this case how exchange rate should be provisioned.
Example: During the financial year 2010-2011 Mr. A exported goods of €5000.00. This bill couldn't be received by the end of F.Y.2010-2011. Mr.A received payment against this invoice in F.Y.2011-2012. What Entry should be made by the end of F.Y.2010-2011 for exchange rate difference & What entry should be made when Payment is received by the Mr.A.
Also,what rate of currency wile be applied by the end to F.y.2010-2011
Shoeb
In export transaction most of time it happens that few export bill are remain to be received from the buyer by the end of financial year. In this case how exchange rate should be provisioned.
Example: During the financial year 2010-2011 Mr. A exported goods of €5000.00. This bill couldn't be received by the end of F.Y.2010-2011. Mr.A received payment against this invoice in F.Y.2011-2012. What Entry should be made by the end of F.Y.2010-2011 for exchange rate difference & What entry should be made when Payment is received by the Mr.A.
Also,what rate of currency wile be applied by the end to F.y.2010-2011
Shoeb
11 June 2011
what rate of currency wile be applied by the end to F.y.2010-2011
REPLY:
WHICH IS MENTIONED ON SHIPPING BILL LEO DATE.
AND ENTRIES RELATED QUIERY LINK IS :-
REPLY:
WHICH IS MENTIONED ON SHIPPING BILL LEO DATE.
AND ENTRIES RELATED QUIERY LINK IS :-
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11 June 2011
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11 June 2011
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