Financial Management - PSFT (MOSC)

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Ledger design

edited Oct 21, 2014 10:02AM in Financial Management - PSFT (MOSC) 1 commentAnswered

Point of Entry is to Functional Ledger ALWAYS

Functional Ledger:

Entered by IND

IND Dr. 620000 - Legal Expense                                  50,000 INR

IND Cr. 213000 – Accrued Professional Fees                                                         50,000 INR

Actuals USD/Functional Ledgers:

10/10/2014 Daily Spot Rate - .5 INR/1 USD

10/10/2014 Daily Spot Rate - 1 INR/1 INR

Automatic Translation and posting to the Management Ledger (Actuals USD) – at Daily Spot Rate

IND Dr. 620000 - Legal Expense                                  $25,000

IND Cr. 213000 – Accrued Professional Fees                                                         $25,000

Automatic Translation and posting to the Management Ledger (Functional) – at Daily Spot Rate

IND Dr. 620000 - Legal Expense                                  50,000 INR

IND Cr. 213000 – Accrued Professional Fees                                                         50,000 INR

Automatic Translation and posting to the Statutory Ledger (Actuals USD) – at Daily Spot Rate

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