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Foreign currency invoice accounting

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(Querist)
17 September 2013 Hi,
I am working with IT company in India and we are raising domestic service invoice as well as export service invoice. while raising export service invoice in foreign currency, based on the RBI website reference rate on same date of invoice, i am accounting in indian rupee value in tally. while receiving the payment, excess or short also accounting as Exchange fluctuation in P & L. Is it correct ? or any other accounting method to be followed. please clarify and suggest.
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Rupesh Jain

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Rupesh Jain (Expert)
17 September 2013 your method of accounting is correct and you can show the fluctuation income side.
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swami123

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swami123 (Querist)
17 September 2013 thanks a lot
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