gain on foreign exchange

找路

请问gain on foreign exchange是current liabilities 吗?

DYKS

不是。是other income。

yewcs

Hi,

Anyone can advise how to record a transaction for foreign currency?

Example:
My invoice issue date 23/11/2014, amount in EUR 1000. What if customer only make payment on year 2015.
How am I going to close the account due to my invoice is in foreign currency.

syj

你可以问你的Auditor年尾的Closing要怎样做，通常Auditor都会Pass Journal做调整的

在23/11/2014你应该将Euro 1,000兑换成MYR，有任何的Gain/Loss on Forex也要记录，例如

23/11/2014 1EURO=4MYR （假设）

Dr Debtor 4,000(MYR)
  Cr Sales 4,000(MYR)

31/12/2014 1EURO=4.2MYR （假设）

Dr Debtor 200(MYR)=4,200-4,000
  Cr Unrealised Gain／Loss on Forex 200(MYR)

基本上，过后有两种做法：１做Reverse；２不做Reverse

１的做法如下

1/1/2015 做Reversal

Dr Unrealised Gain/Loss on Forex 200(MYR)
  Cr Debtor 200(MYR)

15/1/2015 1EURO=4.3MYR （假设）

Dr Bank 4,300(MYR)
  Cr Debtor 4,000 (MYR)
  Cr Realised Gain/Loss on Forex 300(MYR)=4,300-4,000

２的做法如下

1/1/2015 什么都不用做

15/1/2015 1EURO=4.3MYR （假设）

Dr Bank 4,300(MYR)
  Cr Debtor 4,200(MYR)
  Cr Realised Gain/Loss on Forex 100(MYR)=4,300-4,200

P/S：我个人喜欢１的做法，也请其他高手指点请教

fin_info

need someone advise pls....
really confused on oversea bill

let say we issued invoice to oversea clients at USD 1850, then when clients make payments
there will be a charges from bank which is direct deducted from amount received  USD 20.

invoice issued to clients

Dr: receivables  usd 1850
Cr: sales                         usd1850

exchange rate provided by bank is 3.314
invoice converted to rm is rm 6130.90

payment made by clients

Dr: bank      rm6043.05 (tally to bank statements)
cr: receivables

Is_yOu

fin_info 发表于 30-12-2014 09:14 PM
need someone advise pls....
really confused on oversea bill

let assume the initial entry of invoice:
Dr. AR 6,130.90
Cr. Sales 6,130.90
when payment made: (6,043.05 / (1850-20) = 3.3022 rate)
Dr. Bank   6,043.05
Dr. Bank Charges  66.04 (20 * 3.3022)
Dr. Loss on exchange 21.81
Cr. AR  6,130.90

should be almost like that....correct me if anything wrong....

danieljaya

DYKS 发表于 13-10-2014 11:27 AM
不是。是other income。

从 INCOME TAX 的角度来讲，也可以是OTHER BUSINESS INCOME。看公司的transaction是什么nature.

小人物1989

syj 发表于 25-11-2014 05:39 PM
你可以问你的Auditor年尾的Closing要怎样做，通常Auditor都会Pass Journal做调整的

在23/11/2014你应该 ...

1是正确的因为所有monetary items (debtors, cash and cash equivalents and creditors) 如果是foreign currency 的话， 都必须stated at closing currency exchange rate的， 然后它的gains / losses 必须记录在P/L。如果采用2的话，auditor 还是要你做adjustment的。

syj

小人物1989 发表于 28-3-2015 04:05 PM
1是正确的因为所有monetary items (debtors, cash and cash equivalents and creditors) 如果是foreign c ...

可是如果是2的话，也是有进到P&L啊，不是吗？

fin_info

Is_yOu 发表于 6-1-2015 05:19 PM
let assume the initial entry of invoice:
Dr. AR 6,130.90
Cr. Sales 6,130.90

any better ways to solved the bank charges USD 20 cause it not mention in bank slips (this is a visible charges which is not show in bank statement )