In the purchase voucher
| 1. | Enter the date, voucher number and reference. |
| 2. | Ensure that you have created a supplier under Sundry Creditors with the foreign currency specified in the Currency of the Ledger field. |
| 3. | Credit the supplier. |
| 4. | In the Amount field, start with the foreign currency symbol to inform Tally that it is a forex transaction. In this case, type $ (base currency is £) and continue with the amount. $25000. |
| 5. | A forex sub-screen displays. Enter the exchange rate as per the bank or as mentioned on the purchase invoice. (Tally gives the default exchange rate mentioned in the foreign currency master). You can change the rate, if required. Alternatively, change the amount and the rate will be adjusted automatically. If you want to give only the base currency, clear the Forex field and Rate of Exchange field and mention the Value in base currency. The exchange rate will then be ineffective. |
| 6. | In inventory item allocation, consider a purchase of 50 rolls of paper. You can give the rate of the item in base currency or foreign currency. To mention it in foreign currency, start the rate entry with the forex symbol. Tally converts it to the base currency at the exchange rate previously mentioned. |
Note: If you want to give only the base currency, clear the forex field and Rate of Exchange field and simply enter the Value in base currency. The exchange rate would then be ineffective. Of course, if you do not enter a foreign currency in the amount field, the amount is assumed to be in home/base currency.