11--How to enter a foreign currency Sales voucher or

Q-11
12--Allow Multi
Q-12 Multi--currency in Tally
Multi--Currency:
Allow Multi Currency:--
Companies having business with parties of other countries have to enter its transactions
in currencies other than base currency specified at the time of creation of company. For
example, Indian company records its transactions in rupees, but if company deals with
the parties of US company or having export business may have to enter transactions with
US Company in US dollars or raise invoice in US dollars. This feature allows you to
create additional currencies in which you want to enter the transactions.
.Tally allows new ways of working with multiple currencies, automatic calculations of
exchange rates, automatic conversion of any currency at the time of recording a
transaction to the currency of the account, etc.The Balance Sheet and Profit & Loss
Account of the company will always be maintained in the base currency.
Steps and actions of feature
Ø Press F11 features at gateway of Tally
Ø Allow multi currencies to “Yes”
Ø Press A or <Enter> Accounts info. At Gateway of Tally 109
Ø It will show “Currencies” at Accounts Info. Menu as below:

Press R or <Enter> On currencies

Ø Press C or <Enter> on Create to create currency
Ø Press D or <Enter> on Display to view the existing currency
Ø Press A or <Enter> on Alter to edit or change the existing currency
Ø Press R to enter the rates of exchange date wise
 Create New currency

To create the foreign currencies, follow the following steps

Symbol:-Specify
Symbol the Currency symbol, as it should appear in all reports. If your
keyboard does not have the symbol, you may use ASCII special characters with
[Alt] key combination. Some computers may not easily allow input of special
characters through [Alt] key combination. Consult the computer’s user manual.
As Tally prevents you from having duplicate symbols, so you should prefix to the
symbol as US$, AU$ etc.
Formal Name:-
Name:- Specify full name of the currency here, e.g., U.S. Dollars, Pound
Sterling, Indian Rupees, etc. It is only to prevent it from the duplicate currency.
Tally dose not allow duplicate currency. This will helpful for you when you will
compare two companies having same currencies.
For proper comparison, you would want the accounts in the same currency.
Since the symbol is the same but refer to two different currencies, The Formal
Name is used to distinguish them.
Number of Decimal places:- Specify the number of decimal places for the currency to
have the amount in paisa, cents etc. Tally does not allow the reports in paisa; cents.
Amount after decimals tell us about loose change of a currency. . Some currencies have 2
decimal places, e.g. paisa; some have 3, e.g., Dinar. Decimals once used cannot be
altered.
Show amounts in millions? (Yes/No):- Tally has two formats for displaying an amount,
viz., in millions and in lacs. 1000000 (one followed by six zeroes) in millions format
would appear 1,000,000 and in lacs 10,00,000.
Selecting ‘No’ would mean you want amounts to appear in lacs
Is symbol suffixed to amounts? (Yes/No):- Normally currency symbols are prefixed.
However, if you want it to appear after the amount, say it to “ Yes.”
Put a space between amount and symbol? (Yes/No)
Say “Yes” for amounts to have a space between symbol and amount like $ 100/, “No” for
no space like $100/-.

Display existing currency

Here you can view only particulars of a created currency.

Alter the existing Currency

The Alter screen is identical to the creation screen.
Select the currency whose details are to be altered and change any of the particulars. Save
it and come back

Delete the existing Currency

If you have not used the currency in any voucher, you may delete it by pressing key Alt
+ D in the alteration screen.

Rates of Exchange

The screen allows you to enter daily exchange rates of currencies used by you. This
screen remains in Alter mode. You can enter new rates or modify rates already entered

Date for Rates of Exchange:- Here you have to write the date on which you are going to
enter the rates of different currencies.
Standard Rate:- This field is optional not compulsory to fill. The standard rate is used to
calculate variances from the actual transaction rates. Newspapers and bulletins of RBI
publish these rates.
Selling Rate – Specified Rate:- Here, enter the rates on which your bankers will
purchase currency from you. If you input this rate before any transaction, these rates are
picked by tally at the time of entering Receipt voucher. However you may edit the rates.
The actual rate at which the currency was last used is displayed and cannot be changed.
The specified rate is used for calculating foreign exchange variances only in case there is
no standard rate.
Buying rate – specified rate:- This is the rate at which you buy the foreign currency
from your bankers and enter the payment voucher to pay the amount to the bankers. This
rate is also automatically displayed at the time of entering payment voucher.
The actual rate at which the currency was last used is displayed and cannot be changed.
Tally calculates Gain or Loss in foreign exchange transactions automatically using the
standard rates, specified rates and actual transaction rates.

How to enter a foreign currency Sales voucher ?

To enter foreign currency sales voucher, we enter sales transaction in invoice

mode or in voucher mode, if you set yes to “Inventory values are affected” to
sales ledger. At the time of item allocation in sub-screen of voucher mode or in
invoice mode, when you are on Rate Column, Enter the Foreign Currency
Symbol [as US$] in the rate column with the rates of item, a sub-screen appears
asking the conversion rate of foreign exchange with the rupees. Enter the
conversion rate of $ to Rs.and save the voucher. Entries will be saved in
respective ledgers in two currencies. You may view it by f12: configure on the
respective ledger screen.