D. BHUVANESH KUMAR (ASST.MANAGER - ACCOUNTS) (43 Points)
27 November 2008
Manoj
(Articles)
(154 Points)
Replied 28 November 2008
post a query in experts column n particularly Srinivasaraghavan sir
| Originally posted by :D. BHUVANESH KUMAR | ||
| " | Good Day to All, We are in export business and using tally 9, whenever i book a sales entry AUTOMATICALLY MY tally shows some amount in unadjusted gain /loss. Normally after the receipt of the money only we can know whether it's gain / loss. CAN ANYBODY SOLVE THIS OR REFER ANY SUITABLE PERSON |
" |
Nitesh
(service)
(136 Points)
Replied 06 April 2009
amend your exchange rate. u need to put excatly opposite of what you have keyed in defalut. once u have changed the exchange rate pass an entry in tally. this entry will eliminate the amt standing in the ledger account.I have seen this being used by one of my friend.
There is a solution to this .
rgds./nitesh
subramanya
(Professional)
(907 Points)
Replied 14 April 2009
| Originally posted by :D. BHUVANESH KUMAR | ||
| " | Good Day to All, We are in export business and using tally 9, whenever i book a sales entry AUTOMATICALLY MY tally shows some amount in unadjusted gain /loss. Normally after the receipt of the money only we can know whether it's gain / loss. CAN ANYBODY SOLVE THIS OR REFER ANY SUITABLE PERSON |
" |
Create a ledger FOREX GAIN & LOSS under Indirect Expenses
Gateway of Tally >> Accounting Info >> Voucher Type >> Alter >> Journal >> Name of class. specify a name say 'Forex '
In the sub-screen, Use Forex Gain/Loss adjustments = yes >> select the Forex gain & loss ledger and accept.
To adjust the unadjusted forex gain/loss, pass a journal entry
Dr Party
Cr FOREX GAIN & LOSS
and select the references.
NEERAJ
(Accountant)
(22 Points)
Replied 13 June 2009
I do as per suggetions but the amount of forex gain/loss is debited in party's a/c. it means that the same amount is receivable from party but party is liable to pay only selling price amount then how and where I adjusted the forex gain/loss amount. please tell me.
Nitesh
(service)
(136 Points)
Replied 15 June 2009
Dear Subramanya,
There is some confusion with regards "NAME OF CLASS". I did cheked the tally in accounts information. There is no pop up to be selected for "CLASS".
I am not using Multi currency facility in TALLY Version 9. So how to go about it for "Name of the class".
Please do clear the confusion.
Please
Nitesh
(service)
(136 Points)
Replied 15 June 2009
Dear Neeraj,
When u raise Overseas Bill for overseas debtor u prepare the bill in USD.The accounting is done in tally in indian Rupee.So while accounting the sales the exchange rate is the factor by which u convert the USD sales to Indian rupee sales.
While realising the money from Overseas Debtor , u may collect the correct amt in terms of USD. But the exchange rate would have changed.Becasue of the change in exchange rate the company faces loss or gain.
It is this loss or gain which is accounted by way of debiting or crediting "Exchnage loss or Gain " and second effect is given to Debtor.
I think i have cleared ur doubts.
The discussion which is happening in this thread / forum is about the amt whcih tally automatically calculates and is reflected in debtors grouping. This is usually found if u have started multi currency facility . The amt is reversed by certain method and we all are discussing this point.
Nitesh
(service)
(136 Points)
Replied 15 June 2009
Dear Neeraj,
When u raise Overseas Bill for overseas debtor u prepare the bill in USD.The accounting is done in tally in indian Rupee.So while accounting the sales the exchange rate is the factor by which u convert the USD sales to Indian rupee sales.
While realising the money from Overseas Debtor , u may collect the correct amt in terms of USD. But the exchange rate would have changed.Becasue of the change in exchange rate the company faces loss or gain.
It is this loss or gain which is accounted by way of debiting or crediting "Exchnage loss or Gain " and second effect is given to Debtor.
I think i have cleared ur doubts.
The discussion which is happening in this thread / forum is about the amt whcih tally automatically calculates and is reflected in debtors grouping. This is usually found if u have started multi currency facility . The amt is reversed by certain method and we all are discussing this point.
Manigandan
(CEO)
(24 Points)
Replied 09 July 2009
Dear Mr.Bhuvanesh,
Kindly call me at 9789495540. I will be able to solve your issue.
warm regards,
C.Manigandan
subramanya
(Professional)
(907 Points)
Replied 21 July 2009
| Originally posted by :Nitesh | ||
| " | Dear Subramanya, There is some confusion with regards "NAME OF CLASS". I did cheked the tally in accounts information. There is no pop up to be selected for "CLASS". I am not using Multi currency facility in TALLY Version 9. So how to go about it for "Name of the class". Please do clear the confusion. Please |
" |
Dear Nitesh,
Please note, in 'Name of class' field you have to specify a Name and press enter. In the sub-screen you may set yes for Forex adjustment (if you have enabled Multi currency) or set yes for 'VAT adjustments' if you have enabled vat in Tally. ERP 9.
subramanya
IMTIYAZ
(Accountant)
(22 Points)
Replied 19 January 2012
Thanks to publish this post infact i m also facing this type of problem. Urgent response needed....... i m using Tally erp 9 & i just want to know about the multiple currency....... Here in my organisation using multiple currencies like DIRHAMS , USD ,.So in that case we take Dirhams as default currency in UAE & USD Is fixed according to uae mandatory & I managed it smoothly without any hesitation till the bank reconcilation. But recently we open another accounts JPY & EURO....this currencies are fluctuate according to exchange rates. Now my queries are how to managed bank account in tally erp 9 when the currencies are fluctuate.......& at the time of bank statement in tally erp 9 which exchange rates should i sellect for JPY & EURO. How can i get the forex gain/loss vouchar in tally
I would be highly appreciate if you solve this matter ASAP
just mail me plz........imtiyazali1485 @ hotmail.com
Thanks & Regard
Ali
Rajasekar
(accounts)
(122 Points)
Replied 19 March 2012
Dear All,
Pls find the example for how to short out the unadjustedforex gain loss .Its very helpful.
Kindly call me at 9841525500.. will be able to solve your issue.
warm regards,
Rajasekar
sudalay dhas
(Accounting)
(51 Points)
Replied 16 October 2012
dear sir
how to recitify the unadjust forex gain and loss from balacesheet and also how to avoid from tax for this forex gain and loss.please give me the best answer for me
harvinder singh
(accounts Executive)
(22 Points)
Replied 29 July 2016
Hi all,
simply just passed a entry at the End of FY to removed unadjusted forex gain/loss automatic entry mentioned below.
Dr.Aprty by amt of unadjusted forex gain/loss
Cr. foreign Exchange Fluction A/c by amt unadjusted forex gain/loss
CAclubindia
