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Export Gener - FEMAExtract FOREX TRANSACTION MODEL USD 10000 invoice raised to Party on 1-4-2017 Material shipped on Board (B/L Date) is 10-4-2017 Party made Payment on 20-4-2017 Amount Received at our Bank - USD 9980 My question is, how to account this transaction. 1. In Tally, which should be the invoice date as entered, whether the invoice raised date or Shipped on Board Date as Invoice Date. 2. Which USD : INR Exchange rate should be used for making Invoice Entry in Tally, whether as per Custom Bill Rate or prevailing Exchange rate on the date of shipment (B/L Date) 3. We receive always USD 20-50 short per remittance, how to Account this short of amount, whether Dollar Collection Charges or some other means. 4. USD 9980 received is converted in INR and credited to our Account on 20-04-2017, on this date exchange rate is different than on 10-4-2017, which results in FOREX GAIN/LOSS. How to handle it and difference will liable to gst. Kindly solve our queries.
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