on 01-03-2015 4:32 PM
Hi Expert,
i have sold goods to the US customer dated 01.12.2014 usd 11.875.68 , us Rate is USD @58.65 when i received partial payment against same Bill No, amount 100000 Usd date 15.12.2014 US rate is @60.00 USD
so system automatically should be show difference amount to give separate line item i.e Forex gain A/c amt diff 60.00 minus 58.68 i.e 1.35 Usd X 100000=13500.Forex Gain A/c
so final entry should wen we will simulate the same transaction automatically based on configuartion OB09 . we have given Sundry Debtors GL and Forex Loss and gain account
Bank A/c Debited from 135000 USD
customer A/c 100000 Credited
Forex Gain A/c 13500 Credited
kindly correct me.. why not system calculate forex Gain A/c ...for Rs. 13500/-
Kind regards
Pranav Kr. Gupta
Dear Pranav,
System will not post the exchange difference at the tiime of posting of receipt. When you will clear the document using F-32 as partial clearing it will post to exchange difference account. If F-32 is not done, the same will be posted at the time of forex revaluation in month end closing.
Please let me know in case of any doubt.
Regards,
Sumti Bhadani
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Hi Sumti,
U mean to say if i sold goods USD @50.00 as on 25.12.2014 100 qty usd = 100x50= 5000
i received partial payment say 50 qty @55.00usd as on 30.12.2014 50 usd = 55*50 = 2750
so our bank a/c Debited 2750 USD
Customer A/c Credited 2750
Forex Gain will not generate right..
my query was 250 was gain a/c out of 2500 should be updated but here no line item showing while receiving payment partial.
if m wrong kindly correct me.
Kind regards
Pranav Kr. Gupta
Hi Pranav,
Activate check box against the document types "DZ","RV" and "DR" for exchange rate difference for partial payment be click on change button in IDPH1. Once you active this check box, then system will post exchange difference posting while you are posting partial postings. The accounting entry will be:
Bank A/c Dr 6000000 (100000*60)
Customer A/c Cr (100000*58.65)
Foreign exchange gain A/c Cr (100000*1.35)
Regards,
Mukthar
Hi Pranav,
For full payments system posts the loss / gain when clearing the open item. same in the case of residual payment. But if want to have loss or gain in partial payments then indicate the same against the document type in " Fi ->FI global settings ->document->doc header->Indicate currency differences for partial payments" (classic GL settings).
Cheers,
Dear Pranav,
Forex Gain loss will be posted only when we run Foreign currency revaluation as a month end activity.
In your scenario 11,875.68 USD is the amount which customer owes you, so irrespective of the exchange rate difference he is liable for only 11,875.68 USD.
So system will only consider 11,875.68 USD as an open item in customer account irrespective of your company code currency. The customer is not going to pay 11,875.68 equivalent in INR currency only if customer pays in INR we should worry about Forex gain loss.
The loss of gain is irrespective in terms of customer payment, the forexx loss or gain is only concern of the business, hence the same will be calculated at the month end, when you run forex revaluation.
Regards,
M S Lokesh
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