Accounts entry
Querist : Anonymous
So my question is what entry i have to do in my accounts books ..pls help..tks
Querist : Anonymous
Bank Charges xxx
To bank xxx
For Dollar Purchase:-
Dollar (current Assets) xxx
To bank xxx
For dollar expend at foreign:-
Travelling Exp. xxxx
To Dollar xxx
If at the time of returning to India balance dollar left unused with u then u will again convert that to Indian currency:-
Bank Dr xxx
To dollar
And same entry for bank charges, as above(for conversion of dollar to inr if applicable).
Note:- Dollar must b treated as cash & cash equivalents, coz this is the money which u r taking with u to foreign. So treat it as cash.
Bank Charges xxx
To bank xxx
For Dollar Purchase:-
Dollar (current Assets) xxx
To bank xxx
For dollar expend at foreign:-
Travelling Exp. xxxx
To Dollar xxx
If at the time of returning to India balance dollar left unused with u then u will again convert that to Indian currency:-
Bank Dr xxx
To dollar
And same entry for bank charges, as above(for conversion of dollar to inr if applicable).
Note:- Dollar must b treated as cash & cash equivalents, coz this is the money which u r taking with u to foreign. So treat it as cash.
Bank Charges xxx
To bank xxx
For Dollar Purchase:-
Dollar (current Assets) xxx
To bank xxx
For dollar expend at foreign:-
Travelling Exp. xxxx
To Dollar xxx
If at the time of returning to India balance dollar left unused with u then u will again convert that to Indian currency:-
Bank Dr xxx
To dollar
And same entry for bank charges, as above(for conversion of dollar to inr if applicable).
Note:- Dollar must b treated as cash & cash equivalents, coz this is the money which u r taking with u to foreign. So treat it as cash.
Bank Charges xxx
To bank xxx
For Dollar Purchase:-
Dollar (current Assets) xxx
To bank xxx
For dollar expend at foreign:-
Travelling Exp. xxxx
To Dollar xxx
If at the time of returning to India balance dollar left unused with u then u will again convert that to Indian currency:-
Bank Dr xxx
To dollar
And same entry for bank charges, as above(for conversion of dollar to inr if applicable).
Note:- Dollar must b treated as cash & cash equivalents, coz this is the money which u r taking with u to foreign. So treat it as cash.
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