senthil kumar s (audit) (38 Points)
03 July 2009dear all
in my books last year i booked export creditors closing balance at RBI as on 31/3/2008,now the balance creditors of last year pending for payment so as on 31-3-2009 i taken the creditors at RBI RATE while calculating the exchange difference whether i have to compare last year rbi rate with this year or purchase booking rate with rbi rate as on 31-3-2009?
Abhishek Goel
(job)
(32 Points)
Replied 03 July 2009
u just have to record the exchange difference b/w last year and current year take the closing rates of last year & current year the convert the difference into home currency and record the amount
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