Hello!!
How will we account for Foreign Travelling Expenses ??? that is,
1. When INR is exchanged with say $,how will we account for that??
2. Will we book that as expense or we will take it to a control a/c and then book expenses from that control a/c??
Thanking you in anticipation.
you do it through control account
1. when you exchange forex with rupees open an account called forex cash
2. when expenses are incurred for foreign travelling show the expenses through this account and balance remaining if any shall be exchanged for INR.
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
Triveni Turbine Limited
Bengaluru
CA
View Details
CAclubindia
