Foreign remittance
This query is : Resolved
19 August 2011
i have client, who remits sum to their parties abroad.
the invoice inr value and whatever payment tht has been made differs to rate difference on 2 different dates.
in this case, what shud i do. shud i book the extra payment under other ledger (foreign exchng diff)
or shud i book it as entire purchase and dont get into bifurcation?? pls advice.
i m confused
the invoice inr value and whatever payment tht has been made differs to rate difference on 2 different dates.
in this case, what shud i do. shud i book the extra payment under other ledger (foreign exchng diff)
or shud i book it as entire purchase and dont get into bifurcation?? pls advice.
i m confused
19 August 2011
eg: invoice raised by xyz in u.k on 14.12.10 and payment made on 20.12.10
how is the difference to be treated as?
how is the difference to be treated as?
19 August 2011
Need to Follow accounting Standard- 11
Hence, foreign exchange fluctuation transferred to separate head i.e. foreign currency fluctuation
Hence, foreign exchange fluctuation transferred to separate head i.e. foreign currency fluctuation
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
