Accounting and Taxation

 Multiple Currency in Tally Prime

Create, use maintain multiple currency and set rate of Exchange in Tally Prime. Step by step notes with example and practice assignment

Multiple Currencies: Many Organizations have transactions in more than one currency. Such transactions have to be recorded either in the base (home) currency or in the foreign currency. If the transactions are recorded in home currency, the rate at which the foreign currency is exchanged should be recorded as well.

Create Currency in Tally Prime

Gateway of Tally > Currency > Create

Symbol	Formal Name
$	Dollar
Word representing number after the decimal	Cent

Set Rate of Exchange in Tally Prime

Set Dollar Rate: Create > Rate of Exchange

Standard	Selling	Buying
Date	Specified Rate	Date	Specified Rate	Date	Specified Rate
1-Apr-21	₹75/$	1-Apr-21	₹80/$	1-Apr-21	₹73/$

Create Ledger : Gateway of Tally > Create > Ledger

Ledger Name	Under
Suresh Rawat	Sundry Creditors
Purchase	Purchase Accounts
Haider Enterprise	Sundry Debtors
Sales	Sales Account

 Create Stock Group : Gateway of Tally > Create > Stock Group

Group	Under
Food	Primary

 Create Item : Gateway of Tally > Create > Stock Item

Item	Under	Units
Pizza	Food	Pcs
Chips	Food	Pkt

 Purchase Entry Gateway of Tally > Voucher > F9

Supplier invoice no.: 001

Party A/c name ledger: Suresh Rawat

Purchase ledger: Purchase

Name of Item	Quantity	Rate	Amount
Pizza	10 Pcs	$2.00 Pcs	$20.00
Chips	10 Pkt	$1.00 Pkt	$10.00
			$30.00 @ ₹ 73/$ = ₹ 2190.00

Sales Entry: Gateway of Tally > Voucher > F8

Reference no.: 001

Party A/c name ledger: Haider Enterprise

Sales ledger: Sales     

Name of Item	Quantity	Rate	Amount
Pizza	5 Pcs	$3.00 Pcs	$15.00
Chips	5 Pkt	$2.00 Pkt	$10.00
			$25.00 @ ₹ 80/$ = ₹ 2000.00

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