a pvt ltd co receives a cheque in $ as advance for goods so at what rate it should be entered?
The rate on the day it was received or the rate it was credited to the bank a/c by the company bank.please explain
Menu
foreign transaction
Replies (2)
You can use the amount of actual credit in the bank as the rupee value of the cheque. There is no need to account for it one rate and pass the exchange rate fluctuation entry.
Thanks vidya for the help
Recent Topics :
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
Related Topics :
CAclubindia
