what is the difference between contra entry and double entry?

Answer Posted / renu

Contra entry is effected in two books cash and bank but
contra entry is not like journal entry

Is This Answer Correct ?    4 Yes 6 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

I m entering much more than 500-700 sales vouchers per month. But I m getting a problem while entering sale voucher is that If I have entered a sale voucher in the middle of a date then the voucher no is being changed. So how can enter a sale voucher in the middle of a date so that i can adjust the voucher nos from changing.

963


can i direct payment made t code f-53 to bsnl agst telephone exp.? or 1st create a/c.of bsnl and book in fb60 then payment made whose correct?

1563


What is the acceptable accounting procedure when an error is detected in a general ledger account? Explain why such a procedure is followed?

1596


Aptitude Test Questions

1622


Explain me what is assets minus liabilities?

609






Tell me what is tally accounting?

3523


the bank returned S meyer cheque for R450. the cheque has been dishounerd because of insufficient funds, discount of R50 was allowed the account was settled

1304


WHAT IS ACCOUNTING HEAD FOR TRADE FINANCE? I HAVE PAID 49268 FOR TRADE FINANCE.WHERE SHOULD I TAKE IN TALLY

1540


Describe a time when you have not met your goal?

635


How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500

37778


when an amountis declared as NPA by a bank whether any interest can be debited to that account after the date it is declared as NPA ? What are the guidelines of Reserve Bank of India in this respect ?

2078


Tell us depreciation and its types?

637


what are the main important accounting entries for AP and AR ...

1000


what is the diffrence between cash flow & cash fund?

1613


SHADOW BALANCE SHEET

12875