Tejashwini (Professional) (112 Points)
26 June 2009Hi,
My client is using SAP and my query is on AS -11.
When a foreign exchange transaction takes place, we know that the rate of exchange on the date of transaction is to be considered for accrual entry. my query is whether date of transaction is
(a) document/invoice date
(b) Date if posting the entry in the books of accounts.
Regards
CA Tejashwini
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 27 June 2009
I think the date of transaction must be considered as documentry/invoice date... and not the date on which entry is posted in books of accounts....
CAclubindia
