Export transaction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 August 2011 While making export of goods..
there is a difference in USD rate at the time of billing and at the time of realisaiton.

Pl. advise how to make entry and adjust the difference...

Also comment on how to make entry in tally

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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19 August 2011 When we purchase or sale from other country. At that time, we face multicurrency problem. Different countries exchange rate is different. In India, Value of Dollar $ is Rs. 49. Value of Singapore dollar Rs. 34. In Singapore, Value of Dollar $ is 1.421 Singapore dollars. These currencies are fluctuating day to day. Suppose today value of dollar $ is Rs. 49, yesterday, it may be Rs. 48. So, It is very necessary to know, what is the amount of profit or loss due to change in foreign exchange rate when we will buy or sell the goods. This is the basic knowledge for every reader.

FOR MORE INFORMATION:-

http://www.svtuition.org/2009/09/how-to-write-voucher-entries-of-profit.html

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