If we have recieved Inward remittance from abroad for Invoice raised against software dev. activity, then in accounts how will be the treatment as far as currency conversion is concerned.
1. The date on which we receive amount in EEFC account 2. The date on which we convert the currency in INR 3. The Date on which we book the invoice.
Please let me know how and what will be the entires taking into consideration the exchange fluctuation gain or loss?