dear all,
During the GR entry the value in USD IS 10000 & exchange rate is Rs.50.00.But at the time of MIRO the value is USD-12000 & the excange rate is Rs.52.50.
The above transaction should have the following accounting entry.
At GR.
Stores a/c Dr. 500000 (10000*50.00)
To Provision a/c 500000
At MIRO
Provision a/c Dr. 500000
Stores a/c Dr 100000 (USD2000*50.00)
Exchange rate Diff.a/c Dr. 30000 (USD12000*2.50)
To Vendor 630000
Now how to give this effect in MIRO pl. advice.
Thanks
Shivaji