Payment in Multi Currency

[vivienna88]

HI Expert,
i would like to see whether the following calculation on Gain/Loss figure is correct ?

Our home currency is "MYR"

Inv. 1626 from supplier "A" is USD 93,558.42 @ exch rate 3.20 = MYR 318,098.60


Bank Currency is "RMB"

Now we made payment USD 82,140.07 from RMB Account = RMB 497,951.00

so, what is the Gain/Loss account for this transaction then ?

USD 82,140.07 @ 3.4 = RM 279,276.24

RMB 497,951.00 @ 0.54 = RM 268,893.54
Gain RM 10,382.70


is the calculation correct ? if not, then how it should be calculated ?

Thanks

 

[JVAcct]

FX Gain/Loss

It is hard to tell from your example, but your calculation is probably not correct. It is not clear, but it appears that the original invoice was denominated in USD. The invoice was subsequently partial paid. (Don't think this is what you intended but that is what the example shows). Based on a USD denominated invoice in the amount of $1000 for simplicity, here is what you want:


BALANCES AFTER POSTING TRANSACTIONS
.....................USD...Rate...RMB
Invoice..........-1000....3.2....-3200
Payment..........900....3.4.....3060
AP Balance......100....3.4......340
FX Gain....................3.4......-200


GAIN LOSS CALCULATION

Realized Gain/Loss....900....3.2....2880
.................................900....3.4...3060
..................................................-180
Unrealized Gain/loss...100....3.2....320
.................................100....3.4....340
...................................................-20