Foreign exchange loss.

Vikash Kumar (Manager Accounts (CA. Final))   (694 Points)

10 September 2011  

A company import goods from US against 50% advance payment & remaing after 30 days of import. At the time of advance remittance USD rate was Rs.45, on the day of bill of entry it was Rs.45.50 & at the time of balance remittance it was Rs.46. Please suggest me regarding booking of foreign exchange loss & proper reason therof.