Excess Amount received from customer due to USD Rate increase

Discussion in 'General Accountancy Discussion' started by Shakiba, Jul 4, 2018.

  1. Shakiba

    Shakiba

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    We had generated invoice in USD to customer and recorded the dollar amount @ PKR 103/-.in our books
    when the payment was received, the dollar rate was PKR 106/- so the customer paid at the prevailing rate.
    how to treat the excess amount so received.
     
    Shakiba, Jul 4, 2018
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  2. Shakiba

    Steve-LevelUp VIP Member

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    treat it as an exchange gain.
     
    Steve-LevelUp, Jul 4, 2018
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  3. Shakiba

    Shakiba

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    thank you. did just that :)
     
    Shakiba, Jul 4, 2018
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