If invoice amount is USD 1000 @Rs.62 and directly posted at Rs.62000 on 01-01-20

If invoice amount is USD 1000 @Rs.62 and directly posted at Rs.62000 on 01-01-2014 and paid amount is USD1000 @Rs.64
and posted amount is Rs.64000 on 10-01-2014. Where will go the Rs.2000 amount. And what are all entries.

Question Posted / sap fico

3 Answers
10687 Views
Cap Gemini, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

If invoice amount is USD 1000 @Rs.62 and directly posted at Rs.62000 on 01-01-2014 and paid amount i..

Answer / rams@psr

Here is the Journal Entry.

01.01.2014-Invoice-$1000*62=62000
10.01.2014-Payment-$1000*64=64000

Dr Vendor 62000
Dr Exchange Loss 2000
Cr Bank 64000

This 2000 amount will go and stand in Exchange Gain & Loss A/c

Is This Answer Correct ?

34 Yes

0 No

If invoice amount is USD 1000 @Rs.62 and directly posted at Rs.62000 on 01-01-2014 and paid amount i..

Answer / himanshu

1.4.14.purchase A/c Dr. 62000
To Vendor A/c. 62000

10.01.15. Vendor A/C Dr. 64000
To bank A/c. 64000

10.01.15 Forex Gain/Loss Dr. 2000
To Vendor A/C 2000

Is This Answer Correct ?

3 Yes

1 No

If invoice amount is USD 1000 @Rs.62 and directly posted at Rs.62000 on 01-01-2014 and paid amount i..

Answer / sagar_sap

On 01.01.2014 Purchase Entry

Purchase A/c Dr 1000 USD @ 62 Rs. 62000.00
Vendor A/c Cr 1000 USD @ 62 Rs. 62000.00

On 10.01.2014 Payment Entry

Vendor A/c Dr 1000 USD @ 62 Rs. 62000.00
Exchange Loss A/c Dr 1000 USD @ 2 (64-62)Rs. 2000.00
Bank A/c Cr 1000 USD @ 64 Rs. 64000.00

Rs. 2000.00 goes to Exchange Loss A/c and it's debited to Profit & Loss Account.

Is This Answer Correct ?

2 Yes

0 No

Post New Answer

More SAP FI-CO (Financial Accounting & Controlling) Interview Questions

We calculate TAx for Our Vendors/Customers when the transaction is completed Right. Then y can't we calculate Tax(If the year ends) When the Partial payment is done i.e DownPayment/Received. Please Reply.

2 Answers SAT InfoTech,

SAP LIFE CYCLE

1 Answers Cap Gemini, Cognizant, Genpact, Satyam,

i have business in three countries, and i created 3 company codes for 3 countries, now my question is 1. USA, 2. Germany & 3. India so this fiscal years are different my HO is in Germany so that i want to see the reports at HO, how can i see the reports.

2 Answers IBM,

What are the steps to be taken before you execute an actual costing run?

0 Answers

There are result analysis categories in wip (work in process). What do you mean by the result analysis category reserves for unrealized costs?

0 Answers

Explain about fi organizational structure?

0 Answers

An asset was bought in 2000 for company code xxxx for 10000... and was depreciated for 2 years.. then realized asset was of no use in CC xxxx and was transferred to CC yyyy. what wd be capitalization value of asset in new CC

1 Answers Infosys,

What do you enter in Company code Global settings?

9 Answers

What is a dunning procedure? : fi- accounts receivable

0 Answers

Will the fi document be created with the purchase order (po)? : fi- accounts payable

0 Answers

What is an account currency?

0 Answers

Give some examples of gl accounts that should be posted automatically through the system and how is this defined in the system?

0 Answers

For more SAP FI-CO (Financial Accounting & Controlling) Interview Questions Click Here