How to enter Multi Currency in Tally 9 : PART I

Posted on May 1, 2009 by Mahendra • 7 Comments

If your company is dealing in export/import and then it is become necessary to make export/imports bills and entry in a foreign currency. it is also very important to effect profit/loss on each foreign transaction and if you don’t’ enter export/import in a foreign currency then you have to do this job manually.

However, Tally.erp 9 makes it easy to record such transaction.

Here I have uploaded a file to the rapidshare at the following link through which you can know how to create necessary ledgers for recording forex transaction

http://rapidshare.com/files/227917411/Multi_currency.doc

Please don’t forget to come back. within couple of days, I will let you know how to make entries in a foreign currency and also how to make journal entry TO EFFECT THE PROFIT/LOSS ON FOREX

Mahendra (192 Posts)

Mahendra is founder and CEO of the I Vision Infotech, Authorised Tally Sales and Service Partner and helping Tally users to learn Tally and accounting free through this site

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pankaj vishwakarma

1. How i create $(US dollar) in tally9.0?
2. what is the method of "rate of exchange" in tally?
3. please! Give a example of sales -export.

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Hema Satheesh

I am an accountant working in dubai, using Tally ERP9,we are dealing in multi currency therefore, please explain me the reason of getting unadjusted forex gain and loss in the party a/c as well Trail Balance, at present i am adjusting through JV with F option, but every month the same a/c is repeated. Why? and how to avoid it.

TANU SHARMA

sir,i want to know ---
how to enter multi currency in tally 9??
how to enter sale entry with two different rates of tax??????

tanu sharma
aima finance

D.Ranjith

Dear sir,

we have expot import so in our bank eefc a/c dollar a/c how to maintain pls give valuable suggetion.

Tks
Ranjith.d

Gyaneshwar

Dear Sir,
Does the Part 2 exist?

I have a problem with forex gain/loss as Tally is using different rates for calculation than I am specifying. Eg. I put 45 entry rate and 40 sale rate. Difference should be 5 but in Tally I am getting only 2.

Is there any possibility to remove this feature without losing multi currency?

Thanks a lot,
Gyaneshwar

Mahendra

Gyaneshwar,
Have you checked category for multi currency/forex entry in tally ? I have posted two articles there.
About your problem, I am not able to understand what do you mean by entry rate (rs 45) purchase price ?
If possible please send me screen shot. so that I can understand exact problem
What feature you wanted to remove ?
tell me exact from where in tally you want modification ?
Let me explain you how forex in tally works
You sale goods on a rate say 1USD $ 45 on date 20.8.2010
now u get realisation at a rate of usd $ 46 on date 25.8.2010 here Rs. 1 will be your forex profit and the same will be calculated 100% perfectly in tally. If not, then do let me know I will post it and will send you screen shot.

Tanu,
for multi currency, I have already wrote two articles and I believe that it will give you a clear idea on the same.
For entering two different rates of tax, make changes in your sales voucher configuration by F12 set use common ledger for item allocation set to no. If you face any specific problem then revert to me here or at my mail ID