accounting entry for foreign currency purchase
This query is : Resolved
14 November 2008
my boss is going to abroad for official visit, for that we bought foreign currency form authorised dealer , let me know the accounting entrie for the above transaction.
14 November 2008
Tours & travelling (Foreign) Dr
Travel/ Financer Cr
Being amt od USD 000 purchase for foreign **** travelling)
Travel/ Financer Cr
Being amt od USD 000 purchase for foreign **** travelling)
14 November 2008
Travel advance (in INR)Dr.
To Bank
(At the time of purchase and handing over the currency for travel, by actual payment of INR)
To Bank
(At the time of purchase and handing over the currency for travel, by actual payment of INR)
17 November 2008
It should be treated as an advance (i,e Travel advance) should be debited in the books.
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