Trade
Trade handles export invoices in foreign currency in four steps: register a currency, set its exchange rate, register the overseas trade partner and create the export invoice.
Why and when you use it
An exporter bills in dollars or euros but keeps books in rupees. Trade records the foreign amount and the rate, so the rupee value is correct in your books and you can later see exchange gains or losses. The exporter or accountant uses it for every export bill.
Before you start
- Overseas buyer added as a customer
- Trade module active (Enterprise plan)
- Ask your CA whether you export under LUT or with IGST paid
Step by step
- Open Trade and try the demoThe screen opens with "Welcome to Trade". Press Load Demo Data to explore with sample entries, or + Create Trade to start.
- Step 1 - Register a CurrencyEnter the Currency Code (3 letters, e.g. USD) and the Currency Name. Do this once per currency.
- Step 2 - Set Exchange RateEnter the Rate for that currency in rupees. Use the rate your bank or CA tells you to use for the invoice date.
- Step 3 - Register a Trade PartnerPick the Sales Customer (your overseas buyer) and enter the Country Code (2 letters, e.g. US).
- Step 4 - Create Export InvoiceEnter the Invoice Number and the Foreign Amount, then press Create Export Invoice. The rupee value is worked out from the rate.
- Track the shipment and complianceShipping bill, BL and e-BRC details are kept in Trade Intelligence, and export records for RoDTEP and drawback in Export & import compliance.
- Check Registers Overview, Accounts and My PlanThe last tabs are shared by the industry modules. Registers Overview gives one summary of the registers in Trade, Accounts shows the money side of the module and how it reaches your books, and My Plan confirms the module is active - it reads "Trade Enterprise (Enterprise plan)".
Worked example
Patel Engineering Works in Rajkot exports pump spares worth USD 12,500 to Allied Pumps Inc in the United States on 12 Nov 2026. The rate to use is ₹84.20 per dollar.
- Step 1: Currency Code USD, Currency Name US Dollar.
- Step 2: Rate 84.20.
- Step 3: Sales Customer Allied Pumps Inc, Country Code US.
- Step 4: Invoice Number EXP/26-27/014, Foreign Amount 12,500; press Create Export Invoice.
- The invoice shows USD 12,500 = ₹10,52,500.
Result: The export sale is in your books at ₹10,52,500 and the buyer owes USD 12,500. When the money arrives at a different rate, the difference shows as an exchange gain or loss (see Currencies & Forex).
💡 Tips
- Set the rate for the invoice date before creating the invoice.
- Use one invoice number series for exports so they are easy to find.
- Record the shipment in Trade Intelligence the same week.
⚠️ Common mistakes
- Creating the export bill as an ordinary rupee invoice, which loses the foreign amount and rate.
- Using the 2-letter code for currency (US) or the 3-letter code for country (USA). Currency is 3 letters, country is 2.
सवाल
Is GST charged on an export invoice?
Exports are zero-rated; whether you export under LUT or pay IGST and claim refund depends on your setup. Check with your CA.
🎬 Video walkthrough (script — recording coming soon)
- Scene 1: Welcome to Trade and Load Demo Data.
- Scene 2: Registering USD.
- Scene 3: Setting the rate 84.20.
- Scene 4: Trade partner Allied Pumps Inc, US.
- Scene 5: Create Export Invoice for USD 12,500 = ₹10,52,500.