banner_ad

Regarding accounting of import invoices

Others 261 views 2 replies

While booking import purchase , which exchange rate would we consider. 

I have mada an advance payment for import purchase at an exchange rate of 60 USD. After one month when the goods was received the USD is 65 in this case for booking of purchase which usd should I consider. 

Replies (2)
Purchase a/c Dr 60
to supplier 60

supplier a/c Dr 60
foregin exchange fluctuation reserve a/c Dr 5
to cash a/c 65

at the end of the year

p&l a/c Dr 5
to foregin exchange fluctuation reserve a/c 5

Thank you for your response , let me clarify that as per bill of entry USD was 65 in this case which usd should I taken 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details