Forex trading entries

Mohammed Shahid Rahman (Partner) (137 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 Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well.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.