Difference in conversion rate

Accounting Entries 756 views 1 replies

HI All,

I have a query could you please update with the correct suggestion...

I have Two Different Bank Account with my Company...

One deals with INR and another A/c deals with USD...

When I Taransfer money from USD to INR or Vice Versa...

What would be the entery to pass in Tally ERP 9

 

I have already create a account head  "Diff. In Conversion Rate" Under Indirect Expencse...

But how could I manager...

Please update.

Thanks in Advance :)

Regards,

Rakesh

Replies (1)

there is no gain or loss to be accounted at the time of fund transfer.only at the end of the fianacial year USD bank account shoul be valued using closing rate to report in INR.


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