Multi Currency Accounting Entry - Tally ERP 9

Multi Currency Accounting Entry - Tally ERP 9

Verify whether multi currency option is enabled in tally



Un-Adjusted Forex gain / loss



1-In forex enabled client books, an automated entry ‘Un-adjusted Forex gain/loss’ will figure as a separate line item in the Balance Sheet.
2-This is not due to any voucher entry but out of an automated calculation and hence this transaction will not be picked up during JSON Export
3-Now we need to pass Forex Fluctuation entry and remove this automated calculation from the Balance Sheet

Create voucher type



1. Create a separate Voucher Type for Forex Fluctuation Entries
2. Go to Gateway of tally ----> Accounts info ----> Voucher types ---->  Voucher type creation
3. Create a Voucher Type ‘Forex’

Enable Forex Gain/Loss adjustments



1. Under Class-forex option ----> use class for forex gain/loss adjustments option should be “Yes”  and select the all parties whose transactions are involved in foreign currency

Create a ledger for forex adjustment



Forex adjustment entry  - Go to Accounting Vouchers--select Journal



Select class as forex adjustment



Pass forex journal



1-Once Journal Voucher and Class as ‘Forex Adjustment is selected’ then select the party to whose account this forex
   fluctuation entry to be passed
2-Tally will automatically calculate the un-adjusted forex fluctuation amount and fill the amount column

Party ledger



1-Upon passing the forex fluctuation entry, the amount will be reflected in the Party ledger – as above

Balance sheet



1-Once the above entries are passed, the unadjusted forex fluctuation line item will be automatically removed from Tally
2-Now the data is ready for exporting JSON file for AssureAI



    • Related Articles

    • Before Exporting data (Json File) from Tally

      1. Check if the Trial balance tallies - there should be no Opening Balance differences 2. There should be no vouchers in the "Profit & Loss A/c" Profit transfer entries to Capital account / Reserves and Surplus - Delete these entries if present ...

    • De-link Accounts and Inventory

      In Tally , under Accounting Features, and under General Features, auditor needs to set "Maintain Accounts Only" to Yes, and "Integrate Accounts and Inventory" to No. Suppose the client is using an integrated Accounts and Inventory system, user must ...