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What is conta entry
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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cash withdrawn from bank for office.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(cash withdrawn from bank for office use)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withdrawn both entry will come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 |
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