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Jan 19, 2009 at 12:59 PM

Foreign Currency Problem


Dear All

I have any issues on Currency valuation.

It s like this,

I am selling the goods to foreign Customer with currency EURO

So entry is

Customer a/c DR 100 euro Co code currency 6500/-

To sale Account 100euro co code currency 6500/-

As we maintain 65 as currency rate,

Then we received the Paymnet

Bank account a/c Dr 6800 as my bank given me with rate 68/-

To customer account 6500

To Gain or Loss account 300

I am Ok with this..

But again when I am doing reco through FF67 transferring from Incoming account to House bank account at that time also the system is calculating Exchange gain and loss.

As I am having bank account in Foreign Currency and My balance is laying in bank as EURO, so I am not realizing, at this stage still my balance is in EURO I am going to get gain or loss at the time when I convert, but not at the time of Reco.

My incoming /outing and house bank Gl account maintain in Euro.

Please advise me on same.