What is conta entry
- 8 Answers
- 10730 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / mohammedghousemohiuddin
Contra entry is passed when cash deposited into bank and
cash withdrawn from bank for office. the reason is because
in both the transaction it will effect cash and bank.which
is explained as follows
Cash a/c Dr.
To Bank
(cash withdrawn from bank for office use)
bank a/c Dr.
To Cash
(cash deposited in bank)
on the other hand when we withdraw cash for personal use
there will not be contra entry
by
Mohammedghousemohiuddin
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / anjali
Contra entry is a entry we normaly do in tally for entry of
bank to bank transfer transaction, cash to bank or vice
vesa.
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / kvenkat4
contra entry means cash deposited into bank and cash
withdrawn both entry will come
| Is This Answer Correct ? | 6 Yes | 3 No |
Answer / alphalynda l mawkhiew
Contra Entry is a transaction indicating transfer of funds
from : cash account to Bank account,Bank account to cash
account, one bank account to another bank account.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / arjunanag@rocketmail.com
contra entry is nothing but " cash transactions with bank
like deposit or draw from bank " its called contra.
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / md fayyaz alam
As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Cash A/c to another or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from:
Cash account to Cash account
Cash account to Bank account
Bank account to Cash account
Bank account to Bank account
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sekhar
if we draw cash from our bank then it will effect cash to bank
it is called contra entry
| Is This Answer Correct ? | 3 Yes | 7 No |
What exactly is derivatives segment. can u explain futures and options with examples...
am attend to bank exam(iob)pls send model questions
0 Answers Indian Overseas Bank,
what is the definition of direct expenses?
Expand MNS
Generally which method companies follow in stores? Like (FIFO,LIFO,Simple AVG,Weight AVG...)
what is the difference between a call option and a put option?
definition of bank guarantee and use
Expand N A B A R D
Raman site engineer joined on 1-1-2009 in the company with an agreed salary of Rs 20000/-. On the joining date he was given advance of Rs 50000/-agreeing for adeduction of Rs 7500/- for month from salary. Pass salary entry till March,and let me know the advance balance as on 1st April
Short Answer on __________written Down value
what is the diff between CASH CREDIT limit & margin.
why BRS is used
Audit 
