Hello
I have invested in Forex Trading.
I paid Rs.26k to a company named ABC Forex located in India. In return I got $336 to trade with and a leverage of 1:500
I am getting daily statements. Some goes on loss and some on profit. Most of them are loss. I am also getting monthly statement.
My question is how to do these entries in Tally. I have no clue at all.
I have created a ledger named "Investment in Forex" under "Investments" and passed following journal entry:
Dr Investment in Forex
Cr Bank A/c
Now what needs to be done. How do I pass income and loss. Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well.
Thanks.