02 December 2009
Please tell me about this suituation for Exchange rate ? In the present suitutaion for my business that i have paid to supplier for advance payment of 20% of total amount.
And 80% has paid after 1 months. please resolved my this query 20% paid on Rs. 49 $ and 80% on rs. 50 $ And also goods are also received when 80% is paid. so in this transaction what is the exchange rate different created on which date?
02 December 2009
Payment $ Now 49 After I Month 50
Dear, Logically, Goods are Received only after settling the Balance Amount. Hence, here there is no Foreign Exchange Difference You have to debit the respective Account
CAclubindia
