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Exchange Gain/Loss calculated in FF67 (Manual Bank Reco)

Mar 08, 2017 at 04:59 AM


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Former Member


We have Bank A/cs in Foreign Currency (USD).

Local Currency KES

5000 USD is purchased @ 101.

Rate in OB08 on that particular date was 100.

Payment for this was made in KES - 5,05,000 on same day

while doing Bank Reco FF67

there is exchange loss of KES 5000 (101-100*5000)

Purchase & Payment was done on the same day @ the negotiated price of 101, then why is the system calculating exchange gain/loss.

Please enlighten me on this issue.

Thanks & Regards,

Pooja Saraf

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1 Answer

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Former Member Mar 08, 2017 at 07:19 AM


There are always two option for selecting Foreign Exchange rate one will OB08 or rates entered at the time of entry.

As I cant see entry here , but while passing entry no rates where mentioned resulting same system picked rates mentioned in OB08.

As system is calcuated loss , Please check purchase entry in detail

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Former Member

Hi Aditya,

Thanks for the prompt reply.

At the time of Entry in USD exchange rate of 101 was maintained. Accordingly, 5,05,000 KES was paid on the same day.

But, while doing Bank Reconciliation, system is picking up the rate maintained in OB08 & not the rate entered @ time of entry.

Thanks in Advance.

Pooja Saraf