Foriegn exchange loss
This query is : Resolved
SAMIR DESAI
(Querist)
29 February 2012
DEar Sir,
I raised bill of service charge of $100 @52.00 & now i received this bill payment $100@50.00 than $100*2=200 Rs. Loss how pass entry
I raised bill of service charge of $100 @52.00 & now i received this bill payment $100@50.00 than $100*2=200 Rs. Loss how pass entry
Dintakurthi Tirumala
(Expert)
29 February 2012
Amount of loss charge to the P&L Account.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
SAMIR DESAI
(Querist)
29 February 2012
this amount will be cosider as expences
Dintakurthi Tirumala
(Expert)
29 February 2012
Yes it will be consider as expenses.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Mihir Doshi
(Expert)
29 February 2012
When Bill is raised:
Party A/c Dr 5200
To Income A/c 5200
Now on receipt of payment
Bank Ac DR 5000
FX Loss Ac DR 200(it goes to P&L)
To Party A/c 5200
Hope your query is resolved
Thanks
Mihir Doshi
Party A/c Dr 5200
To Income A/c 5200
Now on receipt of payment
Bank Ac DR 5000
FX Loss Ac DR 200(it goes to P&L)
To Party A/c 5200
Hope your query is resolved
Thanks
Mihir Doshi
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