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Forex trading entries

Mohammed Shahid Rahman (Partner) (143 Points)

14 October 2020

Hello

I have invested in Forex Trading.

I paid Rs.26k to a company named ABC Forex located in India. In return I got $336 to trade with and a leverage of 1:500

I am getting daily statements. Some goes on loss and some on profit. Most of them are loss. I am also getting monthly statement.

My question is how to do these entries in Tally. I have no clue at all.

I have created a ledger named "Investment in Forex" under "Investments" and passed following journal entry:

Dr Investment in Forex

Cr Bank A/c

Now what needs to be done. How do I pass income and loss. Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well.

Thanks.

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5 Replies

Mohammed Shahid Rahman (Partner) (143 Points)
Replied 15 October 2020

Any one please reply to the query. Need to know it badly.

Thanks.

alexander (Prestom) (22 Points)
Replied 28 January 2021

Originally posted by : Mohammed Shahid Rahman
	Hello I have invested in Forex Trading. I paid Rs.26k to a company named ABC Forex located in India. In return I got $336 to trade with and a leverage of 1:500 I am getting daily statements. Some goes on loss and some on profit. Most of them are loss. I am also getting monthly statement. My question is how to do these entries in Tally. I have no clue at all. I have created a ledger named "Investment in Forex" under "Investments" and passed following journal entry: Dr Investment in Forex Cr Bank A/c Now what needs to be done. How do I pass income and loss. Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well. Thanks.

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Replied 07 February 2021

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MeefaNol (Abu Road) (24 Points)
Replied 17 June 2021

Hello. I'm sorry that you're losing more and more money. I had the same situation. I invested a lot, but nothing worked out and I was completely desperate.

MeefaNol (Abu Road) (24 Points)
Replied 17 June 2021

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