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Purchase of dollars

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(Querist)
18 June 2013 If the director of the company purchase dollors from the foreign exchange division for the purpose of foreign tour then How can we booked such dollars in our books of accounts which is purchased?
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
18 June 2013 Convert it into INR and record in books. You may take the total value of money the director paid for purchasing dollars as record value.
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Ankita

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Ankita (Querist)
19 June 2013 Bt sir in which account head i will shown such value in INR value
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
19 June 2013 Any suitable head like Travelling Exp. etc.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
19 June 2013 You may open a separate account also like Advance for Director's Travelling A/c. When the director reports the expenses transfer the amount to respective expenditure accounts.
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Ankita

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Ankita (Querist)
20 June 2013 thnx sir.............
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