We are maintaining a Foreign currency Bank Account . When we move to SAP, we had $15,000 in our account which value was equivalent to Local currency 12,15,000 ($15,000 * @81 = 12,15,000). During last 2 years. our local currency deprecated against dollar . But last month we have made a payment $14,000 @108 = 15,12,000. So according ledger we have balance $1000 and in local currency (297,000) . SAP calculated a FX JV for FX unrealized 405,000 in local currency.
When we see the trail balance in local currency its shown negative balance (297,000) but we have $1000 in our account which value is $1000 * 108 = 108,000.
our External Audition raise point that “You have positive balance in your bank account but you showing negative though system calculate provision entry for that account.
So how can we overcome this situation.
Calculation below :
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Answers (1)
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