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Reply from Munir on Jan 12 at 3:49 AM Thanks Gopi.
In that case, how do I show the re valuated balance for my bank account in Balance sheet.
Regards,
Munir
| | | ---------------Original Message---------------
From: Gopi Narayana
Sent: Monday, January 12, 2015 2:16 AM
Subject: Foreign Currency Revaluation
In fact, revaluation entry should be posted between un realized gain/loss
a/c and control account. Original postings in the Bank main account or any
other revaluation account for that matter should not be posted directly for
exchange gain/loss.
While clearing, your realized gain/loss account will hit for loss/gain with
that clearing.
Regards,
Gopi Teegala |
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