Forex trading entries

Tally 210 views 5 replies

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 Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well.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.

Replies (5)

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

Thanks.

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 Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well.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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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.

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