Forex in tally erp 9 is requires If you are engaged in the business of imports-exports then you have to record purchase-sales in a foreign currency other like USD $ other then the base currency. But the common problem is that its difficult to set up Bill wise transactions in Tally.ERP 9.
Here in this tutorial we will see how to record Forex in tally erp 9 with a little explanation and quick how to do method.
But before you start recording your Forex transaction, be care full and enter the base currency while creating a suppliers/ customer’s ledger account as INR rupee or your local currency and Don’t set your base currency a foreign currency.This is necessary to get the bill wise details for your exports-imports transactions
In tally.erp 9 if we maintain suppliers/customers account in foreign currency then it is not possible to manage bill wise details for sundry creditors/sundry debtors. I have raised the query with tally solutions and they suggested me to maintain suppliers/customer account in base currency and then to enter sales/purchase in a foreign currency. in that case we will also be able to view forex transaction as well as INR amount along with bill wise details.
Trust that the information will help users a lot
Forex in Tally Erp 9
Maintenance of Forex in tally erp 9 is requires to find out dues receivables or payable in multi currency other wise it would be difficult to find out which bill is due for payment or receipts. The problem is that if you set up a currency in a supplier/customer ledger other then the base currency then you will not be able to get reports of bill wise details in Tally.ERP 9.
Forex in tally erp 9 Solutions:
Set up the base currency in supplier or customer ledger master and then while recording the transactions prefix the actual dealing currency and record the transactions normally. By this way, you will be able to generate bill wise details Forex in Tally.Erp 9.
We believe Tally Solutions should work on this and should fix this bug
Learn Tally in your mail
Join My mailing list to learn Tally with accountancy through my email tutorials