foreign purchase
This query is : Resolved
22 May 2008
our company has purchase a software from america and send the dollars. what should be the rate of purchase i booked in the books. rate of remittance certificate getting from C.A. or rate of purchase invoice date. and rate of clear should be flucution in the books of account.
for eg.
pucchase bill date: 8 dec amt $33600
Amt in the remittance certificate $33600*40.15=1349040/-
Payment out from the bank $33600*40.13=1348648.90
it is correct tratment?
diiference between 1349040 & 1348648.90 should be charged fluecution as an expenses in the books of account
for eg.
pucchase bill date: 8 dec amt $33600
Amt in the remittance certificate $33600*40.15=1349040/-
Payment out from the bank $33600*40.13=1348648.90
it is correct tratment?
diiference between 1349040 & 1348648.90 should be charged fluecution as an expenses in the books of account
22 May 2008
Payment out from bank is your cost. No need for charging anything to P & L.
23 May 2008
so i book the cost of purchase only Payment out from bank. not as per the bill provided from the USA ore as per remittance certificate.
23 May 2008
yes. Absolutely right.
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