GST Practitioner & Accounts
15022 Points
Joined March 2014
you have to credit actual amount received along with foreign exchange gain for export sale payment received entry will be
1) Bank A/c Dr
To Sundry Debtors A/c Cr
To Foreign exchange gain A/c Cr
( being payment received against export sale )
2) Gain will be transfer to P&L account
Foreign Exchange Gain A/c Dr
To Profit & Loss A/c Cr
( Gain transfer to P&L )
if foreign exchange loss oppsit entry in the books of accounts .
please confirm with others also .