Following the earlier post on ledger account creation in Tally.erp 9 for recording forex transactions/export -import we have seen how to create basic ledgers and account set up to record such transaction.
Today, we will see how to enter vouchers relating export sales/purchases in a foreign currency other then INR
UPDATE : (As on 13th April, 2010) Since rapidshare is now more supporting free downloading, please read my updated article for recording multi currency transaction in tally.erp 9
Those who are in the business of export/import they have to record each export/imports in a USD $ because as per Income Tax Act, a business unit must specify the profit/loss on any forex transactions, so if you don’t’ record mufti currency then you will not be able to maintain your accounts properly
Here is the link to download screen shots for voucher entry in a foreign currency
http://rapidshare.com/files/236558894/multi_currency_-_2.doc
Some other time, I will explain you how to pass a journal entry record profit or loss on account of such forex transactions on a particular date.
plz tell me the entire procedure of Forex Transaction in Tally
Sangeeta,
The procedure is simple. just create a currency like USD $. then record the forex transactions in that currency.
create a voucher class forex gain/loss and record the forex gain loss through that voucher.
in case you face any difficulty, please contact me
Can somebody please tell me how to pass a contra in Tally for the following example
I have bought $10 for Rs 45/- each from mu Rupee cash a/c . Now i want to debit My dollar cash by $10 & credit my rupee cash by 450/-.
How can this be dealt in one contra ??
Please help.
Haresh,
Go through the articles and do it yourself else let’s know me your Tally.erp 9 serial number!
how we can setoff the gain & loss of forex exchange in tally? is that difference amt. is taken under indirect exp./ income ?
Gangdeep,
Generally, all queries are answered at support forum only.because commenting thread is going big big and I have to repeat same answer many times.
plz suggest me how to enter foreign transactions in tally