banner_ad

Foregin exchange

297 views 1 replies

Hello everyone

My query is regarding foreign exchange transactions. We raised invoice for professional service to our head office in Jan-14 and later issued credit note in the same month. In Jan-14 the ROE was suppose 62Rs=1US $.

Now the company wants to again re-bill the same invoice with same  specifications in Mar-14.

Now my question is

1) What rate of exchange will be considered for the above invoice..Rate of Jan-14 or MAr-14??

2) Please justify your answer with relevant accounting standards and other regulations.

Hoping for a speedy reply.

Thanks in advance

Regards

Kiran Morab

 

Replies (1)

You Can Bill It For Jan-14 ROE (Or Even Mar-14) And When You Receive The Amount, Difference in bill amount Can adjusted To Forex Difference Loss/Gain A/c


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details