Dear Seniors,
We have different gross block values for US GAAP and Indian GAAP. The problem is whenever we sell an asset the profit/loss amount is different in both the books. This different profit/loss amount is not going to the respective ledgers automatically. Only the US GAAP ledger is getting the correct profit/loss value as this is our leading ledger and the same document with same values is appearing in Indian GAAP ledger also. To rectify this we are passing a manual entry again with the difference amount to Indian GAAP Ledger. But, client wants this to happen automatically. Can anybody suggest, how to do this?
Points are assured for all helpful ideas.
Regards