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How does foreign exchange gain/loss function in QnE system?

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Question
How does foreign exchange gain/loss function in QnE system?

Answer

If any changes in currency rate,the foreign exchange gain/loss will be operate.

Eg :

-Customer issue an invoice amount USD100 at 01/01/2011. At that time the USD currency = 3.6 so the figure in RM 360.

-After a month (01/02/2011) customer make payment = USD100 for this invoice and the currency rate at 01/02/2011 = 3.8 So the figure in RM 380

When check journal,means that the amount gain RM20 and automatically posting to forex gain account.


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Article Details
Views: 2017 Created on: Aug 18, 2014
Date updated: Aug 18, 2014
Posted in: Delphi

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