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Foreign remittance

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(Querist)
28 December 2013 i am very confuse how to do entry of foreign remittance .. example if company rec 500usd from our client ..and after it this 300 usd convert in inr. what is the entry of rec usd and converison of amount in inr . help me in this entry.
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@VaibhavJ

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@VaibhavJ (Expert)
28 December 2013 Hi

USD 500 should be accounted as receipt from customer.

There will be no entry for conversion, since amount will be lying in your bank whether it be USD or INR.

Thanks

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