Bill Generated in Multi-currency USD In Tally.ERP 9,want to settle receipt in INRBase currency
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We know how to use multi-currency in Tally ERP9. There may be some situations where Bills are generated in Multi-currency but payment received from foreign buyer should be settled against base currency or partially base currency and partially in Multi currency. For Example
How to settle Multi currency bill against Base currency Fully or Partially?
Here in this example we are going to settle multi-currency bill partially.
To generate bill
Gateway of Tally > Accounting Voucher> F8
Make sure that you are entering rate with dollar symbol $ 50 as in the below image
Press enter.you will be asked for forex rate of exchange.
In the rate of exchange column enter the exchange rate on that date.
The Multi currency sales voucher will look like as shown below.
Settle Receipt against base currency partially.
On 31-05-2016 XYZ Inc Paid us $ 5000 and exchange rate on the date was INR 54/ 1$
Go to Gateway of Tally>Accounting Voucher>F6
You must ensure that you are entering voucher in double entry mode .
Click F12 Configure to access receipt voucher configuration.
Press enter and save the configuration, Now receipt voucher will change its mode to double entry.
Change the voucher date to 31-05-2016
Credit : XYZ Inc with $ 5000 , while entering amount make sure that you are prefixing $ with amount like $ 5000.
Press enter you will be asked for exchange rate, here in our example it is INR 54.
Press enter in the Debit /By field enter the USD bank account and make sure that you are entering with Symbol $ 2000
Enter ,again tally will ask for exchange rate.
For Balance amount Select Rupee Bank account. and enter amount without $ symbol. Still tally will ask for forex amount and rate of exchange, Delete both the field as shown in the image.
Enter Bank charges in INR 2000 without $ & forex and rate of exchange.
The receipt will look like as below.
Press enter & save.
Now you can See the XYZ Inc Showing an un-adjusted amount
Gateway of Tally> Display > Accounts Book> Ledger
Foreign buyer ledger.
Balance as per USD Bank Ledger.
Balance as per Rupee Bank Ledger.
Now You have to adjust the Forex loss/gain , to remove un -adjusted Forex loss from report.
Gateway of Tally>Accounting Voucher> F7 Journal.
Now you can see the loss is adjusted in the party ledger. by debiting Forex Loss/Gains.
Hope this tutorial helps , you can post your doubts through our comment form, we will try to reply your queries as soon as possible.