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Forex trading entries

Mohammed Shahid Rahman (Partner) (143 Points)

14 October 2020

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 Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well.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.

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5 Replies

Mohammed Shahid Rahman (Partner) (143 Points)
Replied 15 October 2020

Any one please reply to the query. Need to know it badly.

Thanks.

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alexander (Prestom) (22 Points)
Replied 28 January 2021

Originally posted by : Mohammed Shahid Rahman
	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 Apart from that I have withdrawn few dollars from this investment, how to do entry for that as well.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.

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soniabe (no idea) (22 Points)
Replied 07 February 2021

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MeefaNol (Abu Road) (24 Points)
Replied 17 June 2021

Hello. I'm sorry that you're losing more and more money. I had the same situation. I invested a lot, but nothing worked out and I was completely desperate.

MeefaNol (Abu Road) (24 Points)
Replied 17 June 2021

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