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Forex Gain/Loss while F-28

Hi Expert,

i have sold goods to the US customer dated 01.12.2014  usd 11.875.68 , us Rate is USD @58.65  when i received partial payment against same Bill No, amount 100000 Usd date 15.12.2014 US rate is @60.00 USD

so system automatically should be show difference  amount  to give separate line item i.e  Forex gain A/c amt diff 60.00 minus 58.68 i.e 1.35 Usd X 100000=13500.Forex Gain A/c

so final entry should wen we will simulate the same transaction automatically based on configuartion OB09 . we have given Sundry Debtors GL and Forex Loss and gain account

Bank A/c Debited from 135000 USD

customer A/c                                   100000 Credited

Forex Gain A/c                                  13500 Credited

kindly correct me.. why not system calculate forex Gain A/c ...for Rs. 13500/-

Kind regards

Pranav Kr. Gupta

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2 Answers

  • Best Answer
    Jan 03, 2015 at 05:44 PM

    Dear Pranav,

    System will not post the exchange difference at the tiime of posting of receipt. When you will clear the document using F-32 as partial clearing it will post to exchange difference account. If F-32 is not done, the same will be posted at the time of forex revaluation in month end closing.

    Please let me know in case of any doubt.

    Regards,

    Sumti Bhadani

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    • pranav kumar Mukthar Ali Ahamed N

      Thanks a lott Mukthar...

      problem resloved... same thing as u said earlier Sumti has given reply.. so i request to all of u for helping us..

      Excellent and Prompt reply..

      Kind regards

      Pranav Kr. Gupta

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    Former Member
    Jan 03, 2015 at 05:41 PM

    Dear Pranav,

    Forex Gain loss will be posted only when we  run Foreign currency revaluation as a month end activity.

    In your scenario 11,875.68 USD is the amount which customer owes you, so irrespective of the exchange rate difference he is liable for only 11,875.68 USD.

    So system will only consider 11,875.68 USD as an open item in customer account irrespective of your company code currency. The customer is not going to pay 11,875.68 equivalent in INR currency only if customer pays in INR we should worry about Forex gain loss.

    The loss of gain is irrespective in terms of customer payment, the forexx loss or gain is only concern of the business, hence the same will be calculated at the month end, when you run forex revaluation.

    Regards,

    M S Lokesh

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