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Foreign Currency Transaction [message #344037]

Thu, 28 August 2008 12:05

klok
Messages: 9
Registered: June 2007
Location: London, England

Junior Member

I defined a conversion rate as follows: INR43 = $1 (Indian Rupees : Dollar)

I then input a journal entry to see the effect of the foreign currency conversion, but the result I got is the opposite of what I expected.

The result is:

30000INR = $1,290,000

I think it should be:

INR30000 = $697.67

I am practising using Vision 11.5.10.2

I have attached a jpg file showing a clip of these entries.

Any help will be greatly appreciated.

Attachment: TN&Q3.JPG
(Size: 141.44KB, Downloaded 667 times)

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Re: Foreign Currency Transaction [message #344454 is a reply to message #344037]

Fri, 29 August 2008 19:39

vamsi kasina
Messages: 2112
Registered: October 2003
Location: Cincinnati, OH

Senior Member

You should attached the other form (Conversion Rate).

By
Vamsi

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Re: Foreign Currency Transaction [message #344547 is a reply to message #344454]

Sat, 30 August 2008 08:00

klok
Messages: 9
Registered: June 2007
Location: London, England

Junior Member

Thanks for your reply Vamsi.

I have attached the daily rates window clip.

cheers

Attachment: TN&Q2a.JPG
(Size: 101.20KB, Downloaded 677 times)

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Re: Foreign Currency Transaction [message #344586 is a reply to message #344547]

Sat, 30 August 2008 14:28

vamsi kasina
Messages: 2112
Registered: October 2003
Location: Cincinnati, OH

Senior Member

You have given wrong.
USD To INR would be 43 in this case.

By
Vamsi

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Re: Foreign Currency Transaction [message #344649 is a reply to message #344586]

Sun, 31 August 2008 07:28

klok
Messages: 9
Registered: June 2007
Location: London, England

Junior Member

Thanks

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