Realised Gains and Losses Product wise

casatish007

Dear All,
Our client is a jewelry manufacturer who imports items such as gold, silver, copper etc, It is a statutory requirement that Forex Gains and losses needs to be shown for each of these imports product wise , Eg if a Purchase invoice has gold 1000 US$ and Silver 2000 US$ and the total invoice value is 3000 US$ on 1st Jan 2009 @ 45 , then the Purchases are booked at Rs 3000* 45 = Rs 1,35,000/-

On 2nd Feb 2009 3000 US $ were paid @ 46.

The system automatically posts Rs 3000 ( 46- 45) @ 3000 as Realised Loss.

The client needs the Realised loss for Gold Rs 1000 and Realised Loss for Silver Rs 2000 to be posted Separately in the system. How should be configure this? How can we get this?

Thanking you in advance.

CA Satish Prabhu

ssingla

There is no provision in the standard NAV to do this. I will advise you to have a customized report to show the details rather than customizing the adjust exchange rate functionality. Detailed Customer/Vendor Ledger entries contains the information invoice wise for exchange rate gain/loss. Use a temp table to distribute the gain/loss on the basis of items booked in Purchase/Sales Line.

Mike1

Hi,

Have you thought of using Dimensions?

It won't make it possible to post to different accounts, but you will be able to make reports with it.

casatish007

Dear Mr Sandeep,

Thanks for your reply.. The customer insists on automatic posting of the product wise gains and losses. Is it a very big customization?

Do we have any other workaround other than report, please advise.

Thanking you,

CA Satish Prabhu

ssingla

If you intend to customize it will involve a good amount of customization. I will not recommend this kind of customization as it will be not be inline with the NAV standards. Though we can customize such a feature but it should be a necessity and not desirable. You need to pursue the client to work thru reports.

ssingla

Mike1 wrote:

Hi,

Have you thought of using Dimensions?

It won't make it possible to post to different accounts, but you will be able to make reports with it.

Customer ledger will always have one dimension value for each entry and the requirement is bifurcation of one entry into multiple category of items purchased.

Mike1

ssingla wrote:

Mike1 wrote:

Hi,

Have you thought of using Dimensions?

It won't make it possible to post to different accounts, but you will be able to make reports with it.

Customer ledger will always have one dimension value for each entry and the requirement is bifurcation of one entry into multiple category of items purchased.

I'm not talking about dimension values for the customer ledger entries specifically, but more about the use of dimension values per item, maybe it's worth a try....