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Reply from VidhyaDhar on May 19 at 1:26 PM Hi
Forex loss / gain are P and L account.
Generally you define realization loss and gain accounts as profit and loss
accounts and configure auto-triggering of such accounts during clearing.
You also define similar loss and gain accounts as profit and loss accounts
for forex differences and configure auto triggering of such accounts during
accounts closing.
All these happen for customer , vendor and G L accounts involving foreign
currencies and
for G L accounts withut open item management and managed in foreign
currencies ( based on closing balances).
You also define a balance sheet adjustment to hold the other side of double
entry during accounting of forex differences and this balance sheet
adjustment account appears in the balance sheet netting off (
non-destructively) your sundry debtors and sundry creditors account durng
account closing.
You can define such accounts
minimally at company code level
or
more descriptively for each currency or currency type or ( currency and
currency type ).
Regards
VidhyaDhar
| | | ---------------Original Message---------------
From: sdadusumalli
Sent: Friday, May 18, 2012 6:02 PM
Subject: GL Realized/Unrealized Forex Account
Hi
FX account is P&L Account, and select 1 for Cost element category. |
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