Gain and Loss

Rajkumar Gutti (597 Points)

08 November 2024  
Our company's person went to abroad country for business work for the period
25/10/24 To 31/10/24.

He incurred foreign expensesed 2000 US
from his own pocket ( He not get advance for tour )

We get reference of foreign exchange rate on currency rate website for the date of 31/10/24 & exchange usd in to INR
& give INR to our person.

Here we are not given advance, so we can not create foreign exchange gain / loss.

Is it this method correct or is it necessary to account for foreign exchange gain / loss

Pl guide