Foreign Currency Problem

[former_member1240588]

Dear All

I have any issues on Currency valuation.

It s like this,

I am selling the goods to foreign Customer with currency EURO

So entry is

Customer a/c DR 100 euro Co code currency 6500/-

To sale Account 100euro co code currency 6500/-

As we maintain 65 as currency rate,

Then we received the Paymnet

Bank account a/c Dr 6800 as my bank given me with rate 68/-

To customer account 6500

To Gain or Loss account 300

I am Ok with this..

But again when I am doing reco through FF67 transferring from Incoming account to House bank account at that time also the system is calculating Exchange gain and loss.

As I am having bank account in Foreign Currency and My balance is laying in bank as EURO, so I am not realizing, at this stage still my balance is in EURO I am going to get gain or loss at the time when I convert, but not at the time of Reco.

My incoming /outing and house bank Gl account maintain in Euro.

Please advise me on same.

Jain

[former_member1240588]

ok

[Former Member]

Hi,

your processsing at the tiem of incoming payment is wrong. When you receive money from bank @ 68/- you have to change your ex. rate table with 68/- as well. and clear the invoice and payment. Afterthat, try to revaluate the balances. You might have not get any deviations.

Regadrs,......AJ