Hello Experts,
I am configuring postings for forward exchange rate gains/losses. If I purchase USD1000 on 1 June 2013 at a rate of 9.00 to ZAR for 3 months, and on 1 September the rate is 9.40. I have the following postings after carrying out TBB1 and TPM18.
Debit FX Clearing 9000
Credit Bank 9000
Debit Bank 9400
Credit FX Clearing 9400
Debit FX Clearing 400
Credit Exchange Profit & Loss 400
My question is on the balance remaining on the bank ZAR400 , how and when will that be cleared. Please assist