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How to post exchange rate to separate G/L at MIRO

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Dear all,

While doing GRN  100 units for import PO the exchange rate is Rs.50 for $.

The accounting entry is

 

Stock A/C Dr 100*50               5000

Provision A/c Cr                      5000

 

at the time of MIRO the exchange rate is Rs.55 for $.

 

The required entry should be

 

Provision a/c Dr  100*50                    5000

 

exchange fluctuation a/c Dr 100*5        500

 

Vendor a/c Cr                                             5500

 

 

Regards,

 

Shivaji


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