Buying and selling abroad » Forex gains/losses » Go to message
thank you very much, it is very helpful.
Buying and selling abroad » Forex gains/losses » Go to message
Thank you very much, look forward to hearing from you soon.
Buying and selling abroad » Forex gains/losses » Go to message
Hello,

A couple of months back we have issued an invoice to one of our customers in US dollars. After receiving the payment we have experienced a foreign exchange loss of about £200. How do we correctly account for the forex loss? I am reading everywhere that it has to be shown on p&l income statement but is it a business expense or is it a turnover but displayed in negative numbers? Do we have to exclusively show it while filling company accounts and where would it go on CT600 form?

Would greatly appreciate any help on this issue please.