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Treatment of exchange fluctuation

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 June 2012 Dear Sir,
We railed freight bill @ 54/USD & letter on rate reduced to Rs. 50/USD. Due to fluctuation we recd. Rs. 10,000/- less than sale value (bill amount).
1) How to show the short payment of Rs. 10,000/- ?
Is it shown as Dr./Cr. W/o
or we should book it as "foreign exchange fluctuation" in our P&L?

Thks
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
17 June 2012 The amount of Rs. 10,000 shall be treated as foreign exchange fluctuation loss and shall be debited to P&L Account.
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