Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Multy Currency In Tally ERP 9

neeta gujar (Chartered Accountant) (24 Points)

30 March 2010

Dear Freinds,

One of my clients uses Tally ERP 9 and maintains accounts of Singapore Branch In Singapore Doller as Home currency of Singapore branch.

As the sale and purchase transactions are in USD$,He has activated multy Currency option in company Configuration.

My Query is about selection of Currency of ledger when creating a new Ledger of Debtors and Creditors.

If foreign currency (Say USD$) is selected as currency of Ledger ,the billwise option disappers.

When one should select Foreign currency as Ledger of currency at the time of Ledger Creation .

I request Expert Opinion on this matter.

Thanks

CA N.R.Nagar

Reply
Follow
Share

3 Replies

IMTIYAZ (Accountant) (22 Points)
Replied 18 January 2012

thanks to publish this post infact i m also facing this type of problem. Urgent response needed....... i m using Tally erp 9 & i just want to know about the multiple currency....... Here in my organisation using multiple currencies like DIRHAMS , USD ,.So in that case we take Dirhams as default currency in UAE & USD Is fixed according to uae mandatory & I managed it smoothly without any hesitation till the bank reconcilation. But recently we open another accounts JPY & EURO....this currencies are fluctuate according to exchange rates. Now my queries are how to managed bank account in tally erp 9 when the currencies are fluctuate.......& at the time of bank statement in tally erp 9 which exchange rates should i sellect for JPY & EURO. How can i get the forex gain/loss vouchar in tally

I would be highly appreciate if you solve this matter ASAP

Thanks & Regard
Ali

Upgrade to CAclubindia Pro. Subscribe Now!

Ajay Singh Bhati (Manager (Accounts)) (215 Points)
Replied 13 July 2012

Mr. Imtiyaz,

I found your query while searching for a related topic on multiple currency use. To get the forex gain/loss, you have to enter Rate of Exchange for the currency on transaction date and on the date you are getting the report. You can do this by go to

Getway of Tally - Accounts Info - CuRrencies - Rate of Exchange

Then select the date and currency and enter the rate of exchange for desired currency and your forex gain/loss will be calculated automatically by Tally and will be shown in your Trial Balance and Balance Sheet.

Now about my query:

What I was actually searching for that we have 2 seperate bank accounts, one is for Local Zambian currency and another one is for US$. In US$ Bank Account Ledger, I have selected the Currency of Ledger as "$" but whenever I put any amount in that without putting "$" sign it takes it as local currency, and if i put "$" sign before the amount, it asks for exchange rate. And also it shows bank statement in local currency only.

If anyone of you can help me in this regards, that would be very kind.

Thanks in advance.

Kind regards

Roodita Gaikwad (Practice) (4540 Points)
Replied 20 May 2025

In Tally ERP 9, when you assign a foreign currency (like USD) to a Debtor or Creditor ledger, Tally assumes that all transactions for that ledger will be in that specific currency. As a result, the bill-wise details option may get disabled, especially if there are configuration mismatches or if the company’s base currency setup causes conflicts.

Best Practice for Ledger Currency Selection:

If transactions vary in currencies (e.g., invoices in USD, payments in SGD), it's best to keep the ledger currency same as the base/home currency (e.g., SGD for a Singapore branch). This ensures that bill-wise tracking and adjustments work properly.
Only use a foreign currency (e.g., USD) for ledger creation when all transactions for that party are strictly in that currency and no currency conversions are involved within Tally.
Also ensure in F11: Features, the "Maintain balances bill-by-bill" is enabled before ledger creation.

By keeping ledgers in base currency (SGD), you can still handle foreign currency transactions (USD) during voucher entry by specifying the rate, and Tally will track gain/loss separately while maintaining full bill-wise details.

To automate such ledger creation and forex transaction entry smoothly, XLTool – Excel to Tally Import Tool can help you save time and avoid these configuration issues.

Download Link at: https://xltool.in/excel-to-tally-import/