Hello everyone,
We are a small software company and normally have clients outside India to whom we send invoices in $. We are recording the same in our accounts journal with forex rate applicable that day as per RBI rates. but issue is payment is normally made by client to our company paypal account in $ and not in INR ... after few days of payment to paypal from client, paypal auttransfer that amount to our bank account ... How do I handle this in my company account books ? Shall I show this as payment directly to my company bank account against the above invoice ? Amount is credited in INR to my bank account finally. Also, what happens if payment was done directly to my bank account instead of paypal but payment is in INR ?
Thanks, Divya
CAclubindia
